MADISON, Wis. (AP) — A De Pere businessman charged with defrauding the state’s economic development agency and other investors out of more than $9 million plans to plead guilty to one count of wire fraud.
That is according to plea agreement filed Tuesday by federal prosecutors in Green Bay. The Wisconsin State Journal reported Wednesday that prosecutors plan to recommend that Ronald H. Van Den Heuvel be sentenced to 7½ years in prison.
That would be concurrent with a three-year prison sentence he received in January for defrauding the Horicon Bank out of more than $700,000 starting in 2008.
The remaining 13 counts against Van Den Heuvel would be dismissed under the plea agreement.
The Wisconsin Economic Development Corp. wrote off a $1.1 million loan to Van Den Heuvel, a move that drew criticism of the agency from Democrats.