Iowa man gets 33 months for faking farm loan documents
CEDAR RAPIDS, Iowa (AP) — A man who faked grain contracts so he could obtain farm loans from Farm Credit Services of America has been sent to prison.
Prosecutors say 53-year-old Michael Royster, of Clear Lake, was sentenced Thursday in U.S. District Court in Cedar Rapids to 33 months in prison and ordered to pay more than $1.1 million in restitution. He’d pleaded guilty.
Prosecutors say Royster faked the contracts in 2011, 2012, 2013 and 2015. The documents were aimed a misleading loan officers into thinking cooperatives or other buyers were storing more of his and his son’s corn and soybeans that they actually were.