ANKENY, Iowa — An Ankeny contractor has been sentenced to prison for taking customer checks and not completing the work he was paid to do and later committing bankruptcy fraud.
Louis Grant Peterson, 61, was sentenced Thursday to three years in prison for making false declarations in a bankruptcy proceeding. Peterson, also known as Chip Peterson, was the former owner of Legacy Siding and Windows, an exterior construction company based in Ankeny.
Peterson would take customer deposits and not complete work as promised. He told the FBI that he had spent the money on “gambling” and “irresponsible spending.” Peterson accumulated approximately $1 million in unsecured debt and filed for bankruptcy.
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During the bankruptcy proceedings, the Southern District of Iowa Attorney’s Office says Peterson lied about his employment, business, income, bank accounts, tools, equipment, electronics and other things. Peterson later admitted to the FBI that he had “no idea” where he got the numbers he claimed as income from, and that he had not paid taxes for several years…