DES MOINES, Iowa — A federal grand jury has indicted a 73-year-old man on 10 counts of wire fraud in connection with an alleged Ponzi scheme that cost victims more than $2 million.
William Bernard Tunink of Urbandale solicited investments from victims, telling them the money would be used for investment purposes, according to the indictment. Instead, prosecutors allege Tunink used the money to pay his personal debts and for his own benefit.
The indictment was returned in October. Each count of wire fraud carries a maximum sentence of up to 20 years in prison…