Davenport chiropractor appears on bank fraud, money laundering charges

DAVENPORT, Iowa (KWQC) - A Davenport chiropractor made his initial appearance in federal court Tuesday on a 14-count indictment.

Jason Rannfeldt, 51, is charged with seven counts of false statements to a financial institution, six counts of bank fraud, and one count of money laundering. Court records show he was indicted on March 7.

Rannfeldt owned and operated Rannfeldt Clinic or Rannfeldt Family Chiropractic between Oct. 1988 and April 2021, according to court documents. He claimed to own and operate four additional businesses; Perfect Fit Coaching, LLC; RC Orthotics, LLC and RC Performance Therapy LLC.

Court records show, between January 2021 and May 2021Rannfeldt submitted 11 false and misleading Paycheck Protection Program; or PPP, loan applications for the businesses, including false or fraudulent misrepresented tax documents.

Rannfeldt obtained or attempted to obtain approximately $1,100,000 in PPP loan funds with the submitted applications and documents, according to court records.

Rannfeldt submitted a false and misleading residential mortgage loan application on Aug. 9, 2021, to GreenState Credit Union with supporting documents containing false or fraudulent misrepresentations, according to court records. GreenState Credit Union approved a mortgage loan of $588,750.

Rannfeldt is set for a scheduling conference on April 11, with a trial tentatively set for May 1, according to court records. He was released on bond.

Copyright 2023 KWQC. All rights reserved.