Iowa man pleads guilty to fraudulent schemes
A northeast Iowa man has pleaded guilty in federal court to two fraudulent schemes.
Prosecutors say 47-year-old Michael Recker admitted in federal court in Cedar Rapids last week to conspiring to fabricate grain elevator scale tickets, one count of bankruptcy fraud and one count of interfering with Internal Revenue laws.
Prosecutors say Recker admitted that in 2008 and 2009 he bribed an elevator worker to create the false tickets. The elevator paid Recker more than $20,000 based on the false tickets.
Recker also admitted selling a combine at auction for about $50,000 before filing for bankruptcy. He admitted that he didn't disclose to the bankruptcy court that money was still owed him by the auction company. Recker also admitted trying to conceal taxable income.
His sentencing hasn't been scheduled.
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