Former Iowa farmer pleads to USDA fraud

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Former Iowa farmer pleads to USDA fraud

CEDAR RAPIDS, Iowa (AP)--A former Garnavillo farmer has pleaded guilty to defrauding the U.S. Department of Agriculture for selling grain he'd used as loan collateral.

Daryl Ihde, now of Glen Haven, Wis., pleaded guilty in early January to one count of converting grain that had been mortgaged to a USDA agency called the Commodity Credit Corporation.

The U.S. attorney's office in Cedar Rapids says the 54-year-old Ihde admitted that he wrongfully sold over $38,000 in corn out of trust.

He is facing up to five years in prison and a fine of up to $250,000.

Sentencing wasn't immediately scheduled.

1/26/09
6 Star Midwest Ag\3-B

Date: 1/20/09

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