A pair of northwest Iowa men have filed suit, hoping to get back millions they claim to have lost in a pyramid scheme. The two LeMars men are suing American State Bank in Sioux Center, a bank loan officer and an Orange City accountant, for allegedly misappropriating their investments. Orville Schuster is seeking nearly three-point-six million dollars and William Schlichte wants 762-thousand in the U.S. District Court lawsuit filed in Sioux City. They claim they were duped in a pyramid scheme and that Schuster was persuaded to borrow two-point-four million dollars from the bank since 1997 for the investments.
You are here: / / Northwest Iowa men sue over loss of millions in investments