BREAKING: IOS, 11 people charged in federal indictments

International Outsourcing Services of Bloomington and 11 individuals have been charged in a 25-count indictment by a grand jury in the Eastern District of Wisconsin for allegedly participating in a “wire-fraud scheme to defraud” manufacturers that use coupons in marketing products to consumers.

Bloomington individuals charged include CEO Bruce A. Furr, Executive Vice President Lance Furr and Chief Financial Officer William L. Babler.

More than $250 million in losses were incurred through the alleged fraud, the U.S. Attorney’s Office in Milwaukee said today in a written statement. Five Wisconsin companies were victimized, along with other companies around the country.

Nine IOS executives and employees and two individuals associated with the New Jersey coupon brokerage Riya Coupon Services submitted fraudulent coupons to manufacturers for payment between 1997 and 2006, according to the statement.

The charges followed an investigation by authorities including the U.S. Attorney’s Office and the FBI.

The private company said in a statement that it processes coupons for 40,000 retailers. It added that its customers are paid fairly for coupons they accept and that all manufacturers and other business partners are treated fairly.