Iowa Man Sentenced for Bank Fraud

JEFFERSON CITY, Mo. – An Iowa man was sentenced today for bank fraud.

Roger Dean Peters, 71, was sentenced by U.S. District Judge Roseann Ketchmark to twelve months and one day in federal prison.

Peters pleaded guilty to a single count of bank fraud on May 30, 2024. In his plea agreement, he admitted that he had kited checks between accounts at Exchange Bank of Missouri and First National Bank of Hampton, Iowa, creating fictitious balances that he perpetuated by continuing to write more and more checks. When the scheme collapsed, the bank estimated the total overdraft amount to be $2,882,904.20, exclusive of unpaid fees and other expenses. During the same time, Peters also held a line of credit, and used an intermediary to make fraudulent claims on the line of credit.

Peters’s sentence also included a two year term of supervised release, and an order of restitution.

This case is being prosecuted by Assistant U.S. Attorney Lauren E. Kummerer. It was investigated by the Federal Bureau of Investigation.