Three family members are convicted over alleged crop loan and bankruptcy schemes

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CHICKASAW COUNTY, Iowa (KCAU) — Three family members have been convicted after pledging their 2015 crop to two businesses without their knowledge.

According to a statement from the United States Attorney’s Office, Aime Lyn Rosenbaum, 53, of Lawler, was sentenced to prison on Thursday after pleading guilty to one count of converting property pledged to a security agency. agricultural credit and one count of bankruptcy fraud.

Donald Eugene Rosenbaum, 58, of Cresco, pleaded guilty to one count of fraudulent bankruptcy and was sentenced to jail on Monday.

Field Marshal Dillion Rosenbaum, 27, of Fredericksburg, was sentenced April 25 to jail after pleading guilty to one count of converting property pledged to a farm credit agency.

According to the statement, the family members reached plea agreements and during Aimee Lee Rosenbaum’s three-day sentencing hearing, evidence showed that Aimee Rosenbaum and Donald Rosenbaum were farming. historically land in Chickasaw County.

In late 2014, Aimee Rosenbaum reportedly told her son, Marshal Rosenbaum, to take out a loan for the 2015 crop year, saying he would take over the farm due to Aimee Rosenbaum and Donald Rosenbaum’s health complications.

Marshal Rosenbaum reportedly requested a crop loan from the United States Department of Agriculture-Agricultural Services Agency (USDA-FSA) for $165,000 and pledged the farm’s 2015 agricultural harvest to the USDA-FSA.

Aimee Rosenbaum then allegedly requested more than $1.3 million from their local bank, claiming that Donald Rosenbaum would continue to farm the land for 2015. The statement said she applied for the loan on Donald Rosenbaum’s behalf using a power of attorney that she had gotten from him. This resulted in a double harvest promise without the knowledge of the bank or the USDA.

The release said the Rosenbaums defaulted on both loans and sold the double-pledge crop with little repayment.

Aimee and Donald Rosenbaum filed five bankruptcy petitions with the United States Bankruptcy Court for the Northern District of Iowa after the bank initiated the process for foreclosure of the crop.

The statement said Aimee and Donald Rosenbaum had also filed two additional bankruptcy petitions “in bad faith and on the eve of planned sheriff’s sales in state court to thwart and delay the bank’s attempts to obtain repayment of its loans.

In a bankruptcy hearing that took place over the phone, Aimee Rosenbaum allegedly claimed to be Donald Rosenbaum.

It was later discovered that the district court found that Aimee Rosenbaum also allegedly presented false evidence to the district court during her sentencing hearing.

The Rosenbaums were sentenced in Cedar Rapids by the United States District Court. Aimee Rosenbaum was sentenced to 78 months in prison and was ordered to pay $165,592.21 in restitution to the USDA-FSA, $4,796 to the bank, as well as pay $5,000 in fines and 7 $086.74 in attorney fees for his former court-appointed attorney. She was also ordered to serve three years of probation after her imprisonment.

Donald Rosenbaum was sentenced to two years probation and must pay a fine of $1,000.

Marshal Rosenbaum was sentenced to three months in prison and three months house arrest. He was also ordered to pay $165,592.21 in restitution to the USDA-FSA jointly and severally with Aimee Rosenbaum. He was also sentenced to three years of probation after the prison sentence.

Aimee and Marshal Rosenbaum were released on previously set bonds. They are to report to the Bureau of Prisons on dates which have not yet been set.

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