Marion Man Charged With Wire Fraud, Money Laundering, And Aggravated Identity Theft
Randy Beltramea, from Marion, Iowa, has been charged with two counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft. The charges are contained in an Indictment filed on April 19, 2013, in United States District Court in Cedar Rapids.
The Indictment alleges that, beginning in or around 2009 and continuing through 2011, Beltramea executed a scheme to defraud others of money by soliciting approximately of $125,000 from them falsely representing to them the money would be used to invest in Subway restaurant franchises, when Beltramea actually intended and did use the money in relation to his own real estate development. In connection with this scheme, the Indictment alleges Beltramea laundered the proceeds of the fraud on three occasions to make payments to support his real estate development. The Indictment further alleges that, in inducing one of the victims to invest in Subway franchises, Beltramea used the name of another person, without that person’s permission, on a promissory note purporting to represent that person would repay the victim’s money.
If convicted on all counts, Beltramea faces a mandatory minimum sentence of two years’ imprisonment and a possible maximum sentence of 72 years’ imprisonment, a $1.5 million fine, $600 in special assessments, and 18 years of supervised release following any imprisonment.
Beltramea appeared on April 30, 2013, in federal court in Cedar Rapids and was released on bond pending trial. Trial in the matter is set for July 1, 2013.
As with any criminal case, a charge is merely an accusation and a defendant is presumed innocent until and unless proven guilty.
The case is being prosecuted by Assistant United States Attorney C.J. Williams and was investigated by the Internal Revenue Service.
Court file information is available at https://ecf.iand.uscourts.gov/cgi-bin/login.pl. The case file number is 13-CR-20.