Wisconsin Man Charged with Stealing $14 Million and Racketeering

A Wisconsin man is accused of stealing $14 million from Sadoff’s Iron Metal in Fond du Lac.

According to Fond du Lac County District Attorney’s office, Sterling Kienbaum was charged with racketeering and felony theft charges.

According to the criminal complaint, Kienbaum is the owner of Fox Valley Iron and Metal.

He was allegedly making cash payments to a former employee of Fox Valley for the purpose of receiving payments for dirt purported to be a scrap automobile.

The complaint states the former employee received payments to accept loads of scrap automobiles from Fox Valley that were in excess of what they should have been allowed.

Sadoff allegedly obtained a forensic accountant to calculate the alleged damages incurred by Sadoff through the scheme.