John Kline and Randal Walters, prominent Des Moines developers, have been indicted for bank and wire fraud by a federal grand jury. The two men were partners in Oaks Development Co. The Des Moines Register reports developers including Walters, filed for chapter 7 in 2009 when the real estate market went under. Kline tried to as well, but a judge said no after he invoked his 5th amendment rights 70-plus times in a court hearing without explanation.
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