Iowa real estate mogul gets 1-year term for fraud

January 17, 2014 • Business

In this May 2, 2013 photo, Charles Ruhl Jr. talks outside the NAI Ruhl & Ruhl Commercial office in Davenport, Iowa, as Federal officials searched through the company’s management files. Ruhl, who pleaded guilty in September to federal charges of wire fraud and money laundering, could face two years of prison for his role in stealing more than $1 million from his clients and using some of the funds for personal use. (AP Photo/The Quad City Times, Kevin E. Schmidt)

DAVENPORT, Iowa (AP) — A judge sentenced a prominent Iowa real estate developer to one year in prison Friday for embezzling money from successful business ventures to prop up struggling investments and keep up a wealthy lifestyle.

U.S. District Judge Stephanie Rose said that she struggled to find an appropriate sentence for Charles Ruhl Jr. of Davenport, especially since he had paid his victims back and made many positive contributions to the community.

But she said she was troubled that he secretly withdrew money for years from real estate partnerships he managed, even after he had been caught doing so once before. She said Ruhl, the former owner of Ruhl and Ruhl Commercial, caused great Login to read more

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