Fifty-two-year-old Randy Severson originally pleaded not guilty earlier this month to one count of ongoing criminal conduct, three counts of first-degree fraudulent practice and three counts of second-degree fraudulent practice.
Severson was accused of creating phony invoices utilizing the names and information of family members while acting as the president of Northwood Lumber between 2011 and 2014 and submitting them to Northwoods State Bank to establish lines of credit.
Authorities say Severson admitted to the criminal acts during an interview with FBI and DCI agents in July 2013, but then continued to create and submit fraudulent invoices to Northwoods State Bank. Online court records show a written plea of guilty was filed in Worth County District Court on Thursday. District Judge Gregg Rosenbladt on Monday scheduled a plea change hearing for June 20.
By Bob Fisher, KRIB, Mason City