Curtis Weston, age 35, from Rockwell City, Iowa, pled guilty on October 2, 2026, to one count of money laundering.
In a plea agreement, Weston admitted that he and another individual transferred no less than $21,992,037 in fraudulently obtained loan funds. Weston had an account at a bank where $21,992,037 in funds from fraudulently obtained loans in Weston’s name and the names of 26 other unwitting customers were deposited. An individual that was employed at the bank processed the fraudulent loans and transferred the funds from the bank’s general ledger into Weston’s bank account. Weston and his co-conspirator had accounts in their names (collectively and individually) at an online brokerage based in New York. At sentencing, the United States intends to show that the funds from the fraudulently obtained loans were all transferred from Weston’s bank account to accounts in Weston’s name at the online brokerage. Weston admitted to taking $20,000 of the fraudulently obtained loan funds and illegally transferring the money to an account at another bank.
Sentencing before United States District Court Judge Leonard T. Strand will be set after a presentence report is prepared. Weston remains free on bond previously set by the Court. Weston faces a possible maximum sentence of 10 years’ imprisonment, a $250,000 fine, and up to 3 years of supervised release following any imprisonment.
This case is being investigated by Federal Deposit Insurance Corporation Office of Inspector General and the Sac County Sheriff’s Office. The case is being prosecuted by Assistant United States Attorneys Ron Timmons and Dan Chatham.
Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl
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