Meatingplace.com
By Lisa M. Keefe

The former chief financial officer of Agriprocessors Inc. on Tuesday entered a guilty plea on charges that he conspired to “willfully overvalue property and security for the purpose of influencing the actions of an institution insured by the Federal Deposit Insurance Corp.,” according to papers filed with the U.S. District Court of Northern Iowa on Tuesday.

Specifically, Mitchel Meltzer signed a statement attesting to the value of certain collateral put up for a bank loan, knowing that the actual value of that collateral was less. The charges were filed against him on Sept. 24.

Court papers indicate that Meltzer was charged with conspiring with another individual whose initials are S.R. Former executive Sholom Rubashkin has pleaded not guilty; his trial is due to begin on Oct. 13.

Meltzer is free on bond until his sentencing. He faces a maximum five-year prison sentence, a $250,000 fine and three years of probation.