News

Man With Ties To Okoboji Sentenced To Federal Prison Term For Wire Fraud

Sat 4-1-2017

COUNCIL BLUFFS, Iowa (AP) - A former executive of a western Iowa transportation company has been sentenced to four years in federal prison for wire fraud.

Federal prosecutors say 40-year-old Bradley Cornelsen, of Council Bluffs, was sentenced Friday in a federal courtroom in Council Bluffs and also ordered to pay more than $1.4 million in restitution to MV Transportation.

He was convicted by a jury in November of five counts of wire fraud.

Prosecutors say Cornelsen was chief financial officer for the transportation company in Elk Horn when he paid himself nearly $300,000 in unauthorized bonuses. Officials say he also used his company credit card and company checks buy Rolex watches, collector baseball cards, Louis Vutton luggage, and furniture for his homes in Council Bluffs and Okoboji.