Stephanie Drake-Zierke, Bank Fraud and Forgery, IA, 2014

CEDAR RAPIDS, IA – Stephanie Drake, 50, of Hubbard, Iowa, confessed in federal court on July 23, 2014, to a brazen scheme involving bank fraud and the outright fabrication of official government documents. Drake, formerly known as Stephanie Drake-Zierke, pled guilty to one count of bank fraud and one count of unlawful manufacture and possession of a United States Department of Justice seal – a move that could land her behind bars for decades.

According to court documents, Drake systematically deceived a bank between March 2009 and September 2012. She falsely claimed her husband had secured a $2,200,000 legal settlement, backing up the lie with a forged court order. The ruse worked, securing a series of loans totaling at least $483,513.51. She didn’t stop there. Drake also presented falsified loan paperwork claiming her husband’s parents would guarantee a loan of up to $162,600, further bolstering her fraudulent application. The bank ultimately suffered a loss exceeding $400,000 as a direct result of Drake’s actions.

But the financial crimes were just part of the deception. In January 2012, Drake manufactured and possessed an official seal of the United States Department of Justice. She then used the seal to forge a letter addressed to her husband, falsely claiming he was cooperating with federal authorities in a theft investigation. The letter, purporting to be from the United States Attorney for the Northern District of Iowa, was a clear attempt to reinforce her fabricated narrative and maintain control.

Federal investigators with the Federal Bureau of Investigation and the Hardin County, Iowa, Sheriff’s Office uncovered the intricate web of lies. Assistant United States Attorney Peter Deegan will prosecute the case, seeking a substantial penalty for Drake’s calculated crimes. The sheer audacity of forging a DOJ seal to cover up financial misdeeds is a particularly egregious aspect of this case, demonstrating a blatant disregard for the law and the integrity of federal institutions.

Chief Judge Linda R. Reade of the United States District Court will determine Drake’s fate after a presentence report is prepared. Drake remains free on bond in the interim, but faces a possible maximum sentence of 30 years and 6 months’ imprisonment, a staggering $1,005,000 fine, $110 in special assessments, and five years of supervised release. The case file, number 14-CR-2032, is available for public inspection at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

This case serves as a stark reminder that financial fraud, especially when coupled with the falsification of government documents, will be aggressively pursued and prosecuted by federal authorities. Grimy Times will continue to follow this case and report on the sentencing as it becomes available.