Iowa Man, 73, Indicted on 10 Wire Fraud Counts in Alleged Ponzi Scheme With Losses Over $2 Million
David C. Waterman, United States Attorney for the Southern District of Iowa, announced that a federal grand jury in Des Moines returned an indictment in October 2026 charging William Bernard Tunink, 73, of West Des Moines, Iowa, with 10 counts of wire fraud in connection with an alleged Ponzi scheme involving multiple victims.
As alleged in the indictment, Tunink solicited investments from victims under the guise that the money would be used for investment purposes, but ultimately used the money for other purposes, including payment of his personal debts and for his own benefit. The indictment alleges that losses exceed $2 million.
Tunink made his initial court appearance on October 16, 2026. Each count of wire fraud is punishable by up to 20 years in prison. Trial is set for November 30, 2026. An indictment is merely an allegation, and Tunink is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
The Iowa Insurance Division's Fraud Bureau and the Federal Bureau of Investigation are investigating the case. Assistant United States Attorneys Joseph H. Lubben and Adam Kerndt are prosecuting the case.
Published by GSM · USA (original Chinese edition)
Photo: 图：位于 Des Moines 的美国联邦法院大楼（资料图）。McGhiever 摄，CC BY 4.0，经 Wikimedia Commons。Photo: The United States Courthouse in Des Moines, Iowa (file photo). By McGhiever, CC BY 4.0, via Wikimedia Commons.
