GREEN BAY, WI (WTAQ) – Businessman Ronald Van Den Huevel entered a guilty plea in federal court for a second fraud case.
Van Den Huevel was previously sentenced to three years in prison after being convicted of conspiracy to commit bank fraud.
Federal prosecutors have filed 14 additional counts since then, claiming he raised more than $9 million from investors, including the Wisconsin Economic Development Corp., and used some of that money on personal items.
According to the plea deal, he’s entering into a guilty count of wire fraud and faces up to a 20-year prison term.
Also in the plea deal, Van Den Heuvel agrees to pay restitution of at least $9,389,440 and a plea hearing is scheduled for Friday afternoon before federal Judge William Griesbach.
