WINNEBAGO COUNTY, Iowa – On Friday February 17, 2017, Randall Alan Finer, age 53, of Lake Mills, Iowa was arrested for on-going criminal conduct, a class “B” felony. The arrest stems from a two year investigation by the Iowa Department of Public Safety’s (DPS) Iowa Division of Criminal Investigation (DCI). During the investigation, it was discovered from 2011 through 2015 that Randall solicited funds from citizens in the community totaling over $800,000.00. Randall provided these individuals with promissory notes equal to the amount of the loan, plus a guaranteed rate of return.
During the time listed, Randall Finer made Ponzi payments to investors and falsely portrayed these payments to investors as interest on well-performing stocks, when in fact their investments were at a loss. Randall diverted approximately 52% of the funds collected into his personal accounts used for personal living expenses.
