ISU employee pleads guilty to fraud

Greg Zwiers

ISU employee Stephanie Drake-Zierke pleaded guilty to charges of bank fraud and unlawfully manufacturing and possessing a U.S. Department of Justice seal.

Drake-Zierke is an account clerk at Iowa State.

According to court documents from the U.S. District Court for the Northern District of Iowa, Drake-Zierke presented a loan agreement to Security State Bank in Hubbard, Iowa, in 2009 that claimed her husband had been awarded a settlement for $2.2 million “as the result of a lawsuit related to her husbands defibrillator.”

The charges also state that Drake-Zierke forged a judge’s signature and crated a forged United States Department of Justice Seal.

The document Drake-Zierke provided to Security State Bank was purportedly signed by a judge in Olmstead County, Minn., but the judge worked in a different county in Minnesota at the time.

Drake-Zierke also submitted a loan agreement to Security State Bank for $162,600 that was cosigned by her husband’s parents. The loan amount on the agreement was for only $40,000 when Drake-Zierke’s husband’s parents signed it, according to court documents.

The bank provided Drake-Zierke with a money order of $15,000 in July 2009 based on the fraudulent documents and delayed efforts to collect money from a loan that was given to Drake-Zierke in 2008.