Fraud Conviction
In addition to his occasional entrepreneurial pursuits, Idema has a substantial criminal record. Over the years Idema has been charged with impersonating an officer, conspiracy, passing bad checks, assault, possession of stolen property, and discharging a firearm into a dwelling. In January 1994, Idema was arrested and charged with 58 counts of wire fraud defrauding 59 companies of about $260,000. He was convicted of the charges, sentenced to six years in prison (paroled after having served three years) and was subsequently ordered to pay restitution.
On August 15, 2001 a jury awarded Idema $781,818 for property damage and $1 million for punitive damages. The award came after a jury decided that a property manager improperly sold some of his belongings while Idema was serving his fraud sentence. Two property managers were hired by Idema to take care of a building that housed equipment for two of his businesses, Special Operations Exposition and Trade Show Inc., and Idema Combat Systems. According to the lawsuit, equipment was missing, damaged or destroyed, and holes were punched in the walls of the building. Idema sued both property managers and their wives on April 10, 2000, but everyone except for one property manager was later dropped from the suit.
In June 2005, an investigator sued Idema alleging that he wasn't paid when Idema won the 1.8 million dollar lawsuit. The investigator claimed that Idema orally agreed to pay 15% of any amount collected, he also claimed that Idema failed to pay court reporters, expert witnesses, and others who helped him with his case. Idema never collected the 1.8 million because the property manager that was found guilty declared bankruptcy and Idema settled for 650,000 dollars that he obtained through law suits filed against insurance carriers. Idema's father was the insured.
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Famous quotes containing the words fraud and/or conviction:
“Things gained through unjust fraud are never secure.”
—Sophocles (497–406/5 B.C.)
“I remember my youth and the feeling that will never come back any more—the feeling that I could last for ever, outlast the sea, the earth, and all men; the deceitful feeling that lures us on to joys, to perils, to love, to vain effort—to death; the triumphant conviction of strength, the heat of life in the handful of dust, the glow in the heart that with every year grows dim, grows cold, grows small, and expires—and expires, too soon, too soon—before life itself.”
—Joseph Conrad (1857–1924)