Man Sentenced to Prison For Selling Mortgage Collateral

Allison Tussey —  June 23, 2009 — 1 Comment

Daryl D. Ihde, 54, now of Glen Haven, Wisconsin, who formerly farmed in Garnavillo, Iowa, was sentenced to prison and ordered to pay restitution to the United States on June 17, 2009, in federal court in Cedar Rapids.  Ihde received the prison term after a January 8, 2009, guilty plea to one count of converting grain that had been mortgaged to the Commodity Credit Corporation, an agency of the United States Department of Agriculture (USDA).

At the plea hearing, Ihde admitted he wrongfully sold over $38,000 in corn that was mortgaged to the Commodity Credit Corporation as collateral on a USDA loan. Ihde was sentenced by United States District Court Chief Judge Linda R. Reade to 5 months’ imprisonment followed by 5 months’ of home detention and was ordered to make $38,517 in restitution to the USDA. He must also serve a three-year term of supervised release after the prison term. There is no parole in the federal system.

United States Attorney Matt M. Dummermuth announcement. This case was prosecuted by Assistant United States Attorney Ian K. Thornhill and was investigated by the United States Department of Agriculture, Office of Inspector General.

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Allison Tussey

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One response to Man Sentenced to Prison For Selling Mortgage Collateral

  1. To whom it may concern:
    I have questions on a possible scam my husband and I are involved with.Could someone please contact me as soon as possible.


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