DEVELOPER FRAUD: Walters To Be Sentenced

Posted on: 3:44 pm, February 5, 2013, by , updated on: 03:53pm, February 5, 2013

Randy Walters

One of two Des Moines metro developers involved in a fraud scheme will be sentenced Wednesday.

Randy Walters will find out his punishment in federal court at 1:30 p.m.

Walters helped divert millions from development projects to pay for unrelated expenses. As part of his plea deal, Walters faces a little more than two years in prison.

Walters’ partner, John Kline, has also taken a plea deal on two counts of bank fraud. In return for his plea, seven other counts against him were dropped. His sentencing will be in April.