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Cedar Rapids Conman Sentenced To Federal Prison

A man who defrauded numerous people out of thousands of dollars through multiple schemes was sentenced August 23, 2012, to more than eleven years in federal prison.

Donald K. Washburn, age 63, from Cedar Rapids, received the prison term after being convicted on twenty-eight counts of wire fraud, five counts of money laundering, and thirteen counts of making false statements to the United States Probation Office.

The evidence at trial showed Washburn falsely claimed he owned three mines, iron ore and other valuable minerals. Washburn sought people to invest in the mines or minerals and used their investments for his own personal benefit. Washburn also falsely claimed he owned a casino dice game and sold exclusive licensing rights to the dice game to his victims. Portions of both the mining and dice game schemes occurred while Washburn was on federal supervised release for a prior fraud conviction. During the period of supervised release, Washburn was required to file monthly financial report forms to the United States Probation Office. Washburn’s monthly reports were false because he failed to disclose financial transactions related to his fraudulent mining and dice game schemes.

Washburn was sentenced in Cedar Rapids by United States District Court Chief Judge Linda R. Reade. Washburn was sentenced to 137 months’ imprisonment. A special assessment of $4700 was imposed. He must also serve a three year term of supervised release after the prison term. There is no parole in the federal system.

Washburn was also ordered to pay $842,830.00 in restitution, and was ordered to forfeit $983,060.24 to the United States.

Washburn is being held in the United States Marshal’s custody until he can be transported to a federal prison.

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