Iowa Department of Public Safety
215 East 7th Street
Des Moines, Iowa 50319

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For immediate release: Alex Murphy
  DCI Public Information Officer
Investigative Operations
Iowa Department of Public Safety
February 17, 2017
(515) 443-3014 - cell
(515) 725-6189 - office

Lake Mills Man Arrested for On-Going Criminal Conduct

WINNEBAGO COUNTY, Iowa -- On Friday February 17, 2017, Randall Alan Finer, age 53, of Lake Mills, Iowa was arrested for on-going criminal conduct a class “B” felony, in violation of Iowa Code §706A.1 (5) & 706A.2 (4).  The arrest stems from a two year investigation by the Iowa Department of Public Safety’s (DPS) Iowa Division of Criminal Investigation (DCI).  During the investigation, it was discovered from 2011 through 2015 that Randall solicited funds from citizens in the community totaling over $800,000.00.  Randall provided these individuals with promissory notes equal to the amount of the loan, plus a guaranteed rate of return.

During the time listed, Randall made Ponzi payments to investors and falsely portrayed these payments to investors as interest on well-performing stocks, when in fact their investments were at a loss.  Randall diverted approximately 52% of the funds collected into his personal accounts used for personal living expenses. 

Complaint & Affidavit


Note: A criminal charge is merely an accusation and a defendant is presumed innocent until proven guilty.

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