A former Thurman, Iowa, resident faces four years in prison on fraud charges.
U.S. District Judge John Jarvey sentenced Robert W. Duncan, 55. Duncan pleaded guilty in March to defrauding the Social Security Administration, filing a false income tax return and making a false statement to a financial institution, according to the U.S. Attorney’s Office.
Duncan, former owner and auctioneer for Bob Duncan and Associates, was also ordered to pay restitution to the Social Security Administration in the amount of $218,755.10 and to the Internal Revenue Service in the amount of $42,254.00.
During the plea proceeding, Duncan admitted that he had defrauded the Social Security Administration by receiving benefits he was not entitled to between 1993 and 2011. Duncan also admitted to the court that he had filed a false 1040 tax form for tax year 2008 by underreporting his income and that he had provided false financial documents to Treynor State Bank to obtain a $225,000 loan in 2005.