You read it here first—Dan Nelson and Chris Tapken were indeed indicted in the Southern District of Iowa Federal Court today.
The Argus Leader has the details. An excerpt:
A lengthy indictment filed Wednesday in an Iowa federal court accuses the politically connected ex-car dealer Dan Nelson and business partner Chris Tapken of defrauding several banks, causing an estimated $21 million in losses.The 28-count indictment alleges Nelson and Tapken routinely created false reports, which gave MetaBank and other participating banks undue confidence in the health of their subprime car loan businesses….
The bill of particulars is pretty long. They screwed a number of local banks. No comment so far on the indictments from Dan’s good friend Sen. John Thune, who served on the MetaBank board of directors during his time in the wilderness between his House and Senate gigs.