WASHINGTON (DTN)--A southern Iowa farmer and his wife are facing federal conspiracy and money laundering charges, the Associated Press reported on June 11.
Alfred Ryder, 74, and his wife Mary of Lineville, IA are accused of trying to block the collection of debts that date back to the 1980s farm crisis. They are accused of hiding assets to avoid paying creditors.
The Ryders owned about 5,000 acres in farmland in Iowa, Missouri and Illinois. They are scheduled to be arraigned June 25 in U.S. District Court in Des Moines. A grand jury indictment alleges that Alfred Ryder concealed farmland, machinery and personal bank accounts from creditors, while purchasing more land posing as his brother.
The Ryders face up to 20 years in prison if they are convicted of all charges.