Former MV Transportation CFO gets jail for wire fraud

ELK HORN – Bradley R. Cornelsen, 40, Council Bluffs, has been sentenced to four years in jail on wire fraud charges.
    A federal judge sentenced Cornelsen to the prison term as well as three years supervised release following imprisonment.  He also must pay $1,400,320.09 in restitution to MV Transportation, Elk Horn, his former employer.
    A jury convicted Cornelsen last November of five counts of wire fraud.
    Cornelsen was the former chief financial officer for the company.  Court documents said he paid himself $297,985.13 in unauthorized bonuses, and used a company credit card and company checks to purchase everything from watches and collector baseball cards to Louis Vuitton luggage and furniture for homes in Council Bluffs and Okoboji.
    He worked out of the Elk Horn office, and the loss to the company was estimated at $1.4 million.  MV Transportation is based out of Dallas and is described as a provider of para-transit service in the United States.
    The Federal Bureau of Investigation investigated the case, which was prosecuted by the U.S. Attorney’s Office for the Southern District of Iowa.