Cedar Falls Co-op Manager Sentenced To Prison
Pleads Guilty in Bank Fraud Scheme
A 39-year-old Cedar Falls man was sentenced to prison after pleading guilty in a bank fraud scheme. Nolan DeWall was a manager and shareholder at a Black Hawk County grain co-op, as well as a part owner of a trucking company in Dike. Evidence at the hearing showed that in May of 2018, DeWall conducted a “check-kiting” scheme in which he transferred large amounts of funds by check between the grain co-op and the trucking company. DeWall was sentenced to a year and one day in prison. He must also pay over $217,000 in restitution to his partners in the trucking business and serve a two-year term of supervised release after the prison term. He is also facing trial next month in an unrelated hog farm operation neglect case in Black Hawk County.