Hunter
03/05/20
An Iowa City man has been taken into custody, charged with misappropriating thousands of dollars while he was working as a real estate agent.
According to authorities, 30-year-old Jacob Schwebke of Silver Lane in Iowa City was an agent with Lepic Kroeger Realtors between April 2018 and April 2019. At some point he was entrusted to two real estate bank accounts to carry out his duties as property manager.
According to the realtor, Schwebke reportedly began misappropriating funds in December of 2018 from two accounts by writing checks to himself, and by electronic transfer of funds to his own accounts for his personal benefit.
Schwebke is accused of misappropriating $16,366.35 over the period.
A warrant for Schwebke’s arrest was issued on Monday, and he was arrested on Wednesday morning. He faces charges of first degree theft, a Class C Felony punishable by a prison sentence of up to ten years if convicted.