DES MOINES, Iowa — An Urbandale man has been federally indicted for allegedly making false statements on loan applications and during his bankruptcy case.
The United States Attorney’s Office of the Southern District of Iowa announced on Thursday that a grand jury had returned a three-count indictment against Henry Schappert, 57, on November 13th. The indictment says Schappert applied for, and received, more than $415,000 in Economic Injury Disaster Loans and Paycheck Protection Program loans in 2020 and 2021. The money was supposedly for his company, Allied Exteriors.
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Schappert is accused of making several false statements on the applications, including inflating the number of employees, employee wages, costs of goods sold, and revenue.
The indictment also alleges that after receiving the loans, in 2021, he formed a bar and plant store in West Des Moines, Pots and Shots, LLC. He’s accused of transferring more than $129,000 from his Allied Exteriors business to the new business…