Prosecutors seek tough sentence for Sheridan man

Back to TopCommentsE-mailPrintBookmark and Share

Prosecutors in Iowa are seeking a stiff prison term for a businessman from the Hamilton County community of Sheridan who admitted to stealing more than $500,000 from an Iowa manufacturer.

A filing from the U.S. Attorney's office in Cedar Rapids says prosecutors will ask a judge Wednesday to sentence Lowell Hancher to between 12 and 16 years behind bars.

Hancher has pleaded guilty to one count of wire fraud and one count of securities fraud, admitting that he carried out two separate fraud schemes worth $2.3 million.

Prosecutors say he abused his position as board chairman for Spencer, Iowa-based Cycle Country Accessories to steal $507,000 from the company for personal expenses. The company makes equipment for all-terrain vehicles and golf carts.

Prosecutors say he defrauded investors in a Colorado contractor out of $1.8 million.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ