Iowa real estate mogul gets 1-year term for fraud

DAVENPORT, Iowa (AP) — A judge has sentenced a prominent Iowa developer to one year in prison for embezzling money from business ventures to prop up his real estate holdings and keep up a wealthy lifestyle.

U.S. District Judge Stephanie Rose said Friday that she struggled to fashion an appropriate sentence for Chuck Ruhl of Davenport, especially since he had paid his victims back and had made many positive contributions to the community. But she said she was troubled that he improperly withdrew money for years from real estate partnerships he managed, even after he had been caught doing so once.

Rose’s sentence of twelve months and one day was less than the two years sought by prosecutors. She said she would recommend he serve the time at a minimum-security prison in Yankton, S.D.

blog comments powered by Disqus