Mitchel Meltzer, 50, Postville, Iowa, who conspired to make false statements to a bank pled guilty to one criminal charge in federal court in Cedar Rapids. Meltzer was convicted of one count of conspiracy to make false statements to a bank.
Meltzer admitted he conspired with others between at least September 2007 through about October 2008 to make false statements to a bank in connection with requests for advances on a loan. He admitted he signed a Collateral Certificate on February 1, 2008, that overstated the value of collateral as part of his employer’s request for an advance on a revolving loan.
Sentencing before United States District Court Chief Judge Linda R. Reade will be set after a presentence report is prepared. Meltzer remains free on bond pending sentencing. Meltzer faces a possible maximum sentence of 5 years’ imprisonment without the possibility of parole, a $250,000 fine, a mandatory special assessment of $100, and a term of supervised release of 3 years.
United States Attorney Matt M. Dummermuth announced the guilty plea.
The case is being prosecuted by Assistant United States Attorneys Peter E. Deegan, Jr.; C.J. Williams; and Matthew Cole and was investigated by U.S. Immigration and Customs Enforcement and the Federal Bureau of Investigation.