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Justice News

Department of Justice
U.S. Attorney’s Office
Southern District of Iowa

Monday, July 16, 2018

Honey Creek Man Sentenced to Prison for Bank Fraud

COUNCIL BLUFFS, Iowa – On July 13, 2018, Jack Douglas Sprouse, age 67, of Honey Creek, was sentenced by United States District Court Judge Rebecca Goodgame Ebinger to 15 months in prison for Bank Fraud, announced United States Attorney Marc Krickbaum. Sprouse was ordered to serve five years of supervised release to follow his prison term and pay restitution in an amount of $236,023.54.

According to the plea agreement, Sprouse was the owner of Business Security Software Systems. Beginning at least as early as January 2013, until May of 2016, Sprouse, on behalf of the company, submitted false information to First National Bank of Omaha to ensure the continued distribution of money from a business loan to the company.

This matter was investigated by the Federal Bureau of Investigation and the case was prosecuted by the United States Attorney’s Office for the Southern District of Iowa.

Financial Fraud
Rachel J. Scherle 515-473-9300
Updated July 16, 2018