• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Crime / Courts / Former Dubuque banker sentenced to jail

Former Dubuque banker sentenced to jail

May 2, 2006 By admin

A former Dubuque investment banker was sentenced to more than 11 years in prison Monday on fraud charges, and ordered to pay nearly four million dollars back to 112 victims.

Forty-six-year-old John Finn had pleaded guilty last month to ten counts of mail fraud. Finn admitted that he defrauded his victims by convincing them to loan and invest money as he directed, by falsely telling the victims that the loans and investments were safe and secure with a fixed rate of return.

However, Finn knew the loans and investments were not safe and concealed that fact from his victims. The investments either were directed to high-risk business ventures, which would earn Finn a commission, or the money was pooled into one of Finn’s investment accounts. Finn then used the pooled funds to invest in high-risk ventures and repay other victims. He also used interest payments for his own benefit.

Noting that many of the victims were elderly and saving money for retirement, Judge Linda Reade concluded Finn’s actions resulted in “Broken hearts and broken promises.”

Share this:

  • Facebook
  • Twitter

Filed Under: Crime / Courts

Featured Stories

Governor signs Iowa Renewable Fuels Standard into law

Jury returns guilty verdict in shooting death of State Trooper

A haboob, a dust storm black out, hits northwest Iowa

Summit has easements for 20% of carbon pipeline route through Iowa

Morel mushroom hunters on hold without warmer conditions

TwitterFacebook
Tweets by RadioIowa

Iowa Special Olympics Summer games set to open in Ames

Radio Iowa/Baseball Coaches Association High School Poll 5/16/22

Iowa assistant coach Kirk Speraw to retire

Northern Iowa prepares for Missouri Valley Conference softball tournament

T.J. Otzelberger announces staff changes at Iowa State

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2022 ยท Learfield News & Ag, LLC