A central Iowa man will server 15 months in prison for lying when he applied for loans.
Fifty-five-year-old Donald Lynn Embree of Waukee pleaded guilty in September to three counts of making false statements to overvalue securities. Embree admitted that he received three loans from the Commodity Credit Corporation in March of 2015 by falsely certifying that he had grain stored in bins on his property as collateral for the loans.
Embree had already sold most of the grain before applying for the loans. He was sentenced to the 15 months in federal prison and also ordered to pay $322,000 in resitution to the U.S. Department of Agriculture Farm Service Agency.