Hartley, Iowa — A Hartley man faces a felony charge following his Tuesday arrest on a warrant charging 1st Degree Theft.
According to a release from the O’Brien County Sheriff’s Office the charge against Douglas Streit stems from the sale of corn earlier this year.
Deputies allege that during March of this year, Streit sold more than 20-thousand bushels of corn to Ken’s Feed Store in Sutherland, for $64,624.77. Authorities say the Security State Bank of Sutherland had security interest in the corn that was sold.
Authorities say Streit, with the intent to defraud the Security State Bank of Sutherland, deposited the proceeds in his personal checking account in Harlan, IA., rather than paying his debt to the Sutherland bank.
Streit reportedly had an initial appearance before Magistrate Jeffrey Queck Wednesday, and was released on his own recognizance.
1st Degree Theft is a Class “C” Felony.
