An Ankeny contractor who admitted to blowing customer money on “gambling” and “irresponsible spending” was sentenced on December 18, 2025, to three years in federal prison. According to court records, he was punished for lying during bankruptcy proceedings.
Louis Grant Peterson, who also went by “Chip Peterson,” is 61 and formerly owned Legacy Siding and Windows, an exterior construction company based in Ankeny. Prosecutors say Peterson collected hundreds of thousands of dollars in deposits from customers for home improvement projects he never finished. He later told the FBI that he spent much of that money on gambling and other personal expenses.
Ankeny Man Sentenced to Three Years’ Imprisonment for Bankruptcy Fraud https://t.co/ddb1hfUE7S…