A former Deere and Company employee from Iowa has admitted to defrauding the Illinois-based company out of at least $250,000 over a nine-year period. 63-year-old Harvey Ulfers of Cedar Falls, Iowa pleaded guilty to various wire fraud and money laundering charges.
Authorities say Ulfers used his position as a purchasing supervisor to create and approve fraudulent documents which allowed significantly undervalued scrap metal to leave his Waterloo facility. Ulfers' attorney, Donovan Robertson, says his client is likely to receive between 21 and 27 months in prison when he is sentenced in March in U.S. District Court in Rock Island.
A co-defendant, 46-year-old Patrick W. Williams of Cedar Falls, pleaded guilty to a money-laundering conspiracy charge in April.
