United States Attorney's Office for the Northern District of Iowa
10/05/2026 | Press release | Distributed by Public on 10/06/2026 10:16
Man Pleads Guilty to Money Laundering Offense in Scheme Involving Over $21,000,000 in Stolen Funds
Curtis Weston, age 35, from Rockwell City, Iowa, pled guilty on October 2, 2026, to one count of money laundering.
In a plea agreement, Weston admitted that he and another individual transferred no less than $21,992,037 in fraudulently obtained loan funds. Weston had an account at a bank where $21,992,037 in funds from fraudulently obtained loans in Weston's name and the names of 26 other unwitting customers were deposited. An individual that was employed at the bank processed the fraudulent loans and transferred the funds from the bank's general ledger into Weston's bank account. Weston and his co-conspirator had accounts in their names (collectively and individually) at an online brokerage based in New York. At sentencing, the United States intends to show that the funds from the fraudulently obtained loans were all transferred from Weston's bank account to accounts in Weston's name at the online brokerage. Weston admitted to taking $20,000 of the fraudulently obtained loan funds and illegally transferring the money to an account at another bank.
Sentencing before United States District Court Judge Leonard T. Strand will be set after a presentence report is prepared. Weston remains free on bond previously set by the Court. Weston faces a possible maximum sentence of 10 years' imprisonment, a $250,000 fine, and up to 3 years of supervised release following any imprisonment.
This case is being investigated by Federal Deposit Insurance Corporation Office of Inspector General and the Sac County Sheriff's Office. The case is being prosecuted by Assistant United States Attorneys Ron Timmons and Dan Chatham.
Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.plLinks to other government and non-government sites will typically appear with the "external link" icon to indicate that you are leaving the Department of Justice website when you click the link..
The case file number is 26-04003.
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United States Attorney's Office for the Northern District of Iowa published this content on October 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 06, 2026 at 16:16 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]