A former southwest Iowa auctioneer will spend time in prison for fraud. A U.S. District Court judge sentenced 55-year-old Robert Duncan, a former resident of Thurman in Fremont County, to four years in prison after he pled guilty in March to defrauding the Social Security Administration, filing a false tax return and making a false statement to a financial institution.
Duncan owned and operated the auction firm Bob Duncan and Associates. He admitted he received Social Security benefits he was not entitled to between 1993 and 2011, filed a tax return that underreported his income, and used false documents to obtain a $225,000 loan in 2005.
Duncan was ordered to pay restitution to the Social Security Administration of $218,755 dollars and the IRS $42,254.