Iowa man pleads guilty to fraud charges
An Iowa man has plead guilty to fraud charges for defrauding the Social Security Administration.
According to a statement from the U.S. Attorney’s office, Robert W. Duncan, 54 admitted to filing a false income tax return and making a false statement to a financial institution.
Duncan admitted to defrauding the Social Security Administration of between $200,000 and $400,000 by receiving benefits he was not entitled to between 1993 and 2011.
In addition, he admitted to filing a false 1040 tax form for tax year 2008 by under-reporting his income and providing false financial documents to Treynor State Bank in 2005 to obtain a $225,000 loan.
Sentencing is set for June 11, 2013, where Duncan faces a possible thirty year prison sentence, $1 million in fines, and five years of supervised release.