Former Deere employee sentenced to more than 2 years in prison

Ulfers pleaded guilty in November to wire fraud and money laundering

ROCK ISLAND, Illinois - A former Deere & Company employee was sentenced Tuesday to more than two years in prison for wire fraud and money laundering.

Harvey Ulfers of Cedar Falls, Iowa, was ordered to serve two years and nine months in a federal prison by U.S. District Judge Sara Darrow. 

Ulfers, 64, also must pay a fine of $111,602 and $259,132 in restitution to Deere. Ulfers was ordered to report to the federal Bureau of Prisons on Saturday to begin serving his sentence.

Ulfers pleaded guilty on Nov. 17 to the eight counts of the indictment, which charged him with wire fraud, money laundering and money laundering conspiracy. From about 2004 to January 2013, Ulfers defrauded Deere of at least $250,000. Using his position at Deere’s foundry facility in Waterloo, Iowa, Ulfers caused the creation and approval of fraudulent internal documents that allowed significantly undervalued scrap metal to leave the facility. Ulfers conspired with others to obtain the excess value of the scrap after it was sold at scrap yards like Alter Metal Recycling, using a third entity to launder the fraudulent proceeds and provide cash payments to Ulfers.

Ulfers’ co-conspirator, Patrick Williams, 47, of Cedar Falls, Iowa, a former employee of Alter Metal Recycling, pleaded guilty to money laundering conspiracy on April 14, 2016. Judge Darrow sentenced Williams on April 13 to 27 months in federal prison.  Williams also was ordered to pay restitution in the amount of $259,132.97 to Deere.

 


More Stories

Don't Miss

  • Hidden History
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • QC Health Alert
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Your Local Elections HQ
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Our QC Cares
  • Consumer Connections
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Latest News

Video Center