Henry J. Schappert, False Statements, Iowa 2025

Urbandale Man Charged with Making False Statements on Loan Applications and in Bankruptcy Proceedings

A 57-year-old Urbandale man has been charged with making false statements on loan applications and in bankruptcy proceedings, according to a federal indictment.

Henry J. Schappert, owner of Allied Exteriors, applied for and obtained over $415,000 in Economic Injury Disaster Loans and Paycheck Protection Program loans in 2020 and 2021, which he allegedly used to fund his own business ventures, including a bar and plant store in West Des Moines.

The indictment alleges that Schappert made several false statements on loan applications, including overstating the number of employees, revenue, cost of goods sold, and employee wages.

Additionally, the indictment alleges that Schappert transferred over $129,000 from Allied Exteriors' accounts to his new business venture, Pots and Shots, LLC.

In 2024, Schappert filed for bankruptcy in the Southern District of Iowa, making several false declarations on his bankruptcy petition and schedules.

United States Attorney David C. Waterman announced the indictment, which was investigated by the Federal Bureau of Investigation with assistance from the Office of the United States Trustee.

Assistant United States Attorney Joseph Lubben is prosecuting the case.

An indictment is merely an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

Henry J. Schappert's exact criminal charges include making false statements on two loan applications and during bankruptcy proceedings.

This incident occurred in Des Moines, Iowa on November 13, 2025.

Henry J. Schappert is currently at large and has not been sentenced yet.

Source: https://www.justice.gov/usao-sdia/pr/urbandale-man-charged-making-false-statements-loan-applications-and-bankruptcy