Dealer sentenced in $14 million scrap metal scheme
FOND DU LAC (WLUK) – A scrap metal dealer was sentenced to 11 years in prison for a scheme that bilked a Fond du Lac firm out of $14 million.
Sterling Keinbaum, owner of Fox Valley Iron and Metal, paid employees of Sadoff Iron & Metal to accept overloaded scrap vehicles filled with dirt, inflating the check from Sadoff for the supposed metal content, according to the complaint.
He was convicted of racketeering, and sentenced to eight years in prison in that count. Judge Robert Wirtz added another three years in prison on a theft count during Tuesday’s sentencing hearing, court records show.
The two Sadoff workers were convicted and put on probation.