Iowa Man Expected to Change Plea in Fraud Case
DES MOINES, Iowa (AP) - A Des Moines area developer is expected to change his plea to guilty in his federal wire and bank fraud case.
The Des Moines Register reports that John Kline's hearing is scheduled for Friday morning.
Kline and Randy Walters, former partners in Oaks Development Co., were indicted in 2011 on nine counts of bank and wire fraud. The charges stem from loans obtained for two development projects. The indictment says the scheme cost 13 banks a total of $2.9 million from November 2004 through January 2007.
Walters pleaded guilty in September to a single charge and is scheduled to be sentenced next month.
Kline had been scheduled for trial later this month.