Randy Beltramea, a Marion man, is facing serious charges after allegedly executing a scheme to defraud others of $125,000.
According to the indictment, Beltramea solicited the money from individuals under the false pretense that it would be used to invest in Subway restaurant franchises.
However, the indictment alleges that Beltramea actually used the money to support his own real estate development.
As part of the scheme, Beltramea laundered the proceeds of the fraud on three occasions to make payments to support his real estate development.
The indictment also alleges that Beltramea used the name of another person without their permission on a promissory note to induce one of the victims to invest in Subway franchises.
Beltramea faces two counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft.
If convicted on all counts, Beltramea faces a mandatory minimum sentence of two years’ imprisonment and a possible maximum sentence of 72 years’ imprisonment, a $1.5 million fine, $600 in special assessments, and 18 years of supervised release following any imprisonment.
Beltramea appeared in federal court in Cedar Rapids on April 30, 2013, and was released on bond pending trial.
Trial in the matter is set for July 1, 2013.
As with any criminal case, a charge is merely an accusation and a defendant is presumed innocent until and unless proven guilty.
Related Federal Cases
- Randy Beltramea, Fraud, Money Laundering, Tax Evasion, Iowa 2013 · Iowa
- Terry L. Gantt, Wire Fraud and Aggravated Identity Theft, Iowa 2014 · Iowa
- Jalel Aossey, William Aossey, Conspiracy to Make False Statements, Wire Fraud, Money Laundering, Iowa 2014 · Iowa
- Abel Fajardo-Guizar, Unlawful Use of Identification Documents and Aggravated Identity Theft, Iowa 2013 · Iowa
- Yoirlan Tome Rojas, Credit Card Fraud and Identity Theft, Iowa 2014 · Iowa
Key Facts
- State: Iowa
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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