DES MOINES — A judge has appointed Hertz Farm Management to take control of the farming operation owned by Republican lieutenant governor candidate Derek Wulf after a lender petitioned the court to place the property in receivership, according to reporting by the Des Moines Register.
What led to the receivership
The court action follows civil and criminal scrutiny of Wulf and his company. The Register reported Wulf or his business are the subject of two lawsuits that allege fraud and theft. Separately, the Black Hawk County Sheriff’s Office has an active criminal investigation involving Wulf, the Register said.
Receivership generally allows a neutral third party — in this case, Hertz Farm Management — to assume control of assets when a lender or creditor demonstrates that such control is necessary to protect the property’s value or to oversee the collection of debts. The lender initiated the request to the court that led to the appointment.
Political fallout for the Lahn-Wulf ticket
Wulf is the running mate of Republican gubernatorial candidate Zach Lahn. The Lahn campaign has denied that Wulf committed fraud or theft and said refinancing of Wulf’s farming operation is nearing completion. Iowa's News Now reported it has reached out to Lahn’s campaign for additional comment but had not received a response.
The Iowa Democratic Party seized on the legal troubles in public comments, criticizing Lahn’s selection of Wulf. Iowa Democratic Party spokesperson Terra Hernandez said:
"Zach Lahn choosing a running mate who’s under criminal investigation and accused of fraud and theft that have only deepened farmers’ pain tells you everything you need to know about how he’d make decisions for our state. Iowans deserve honest answers about Derek Wulf’s lawsuits, millions of dollars in debt, and ongoing criminal investigation, but Lahn only has excuses and lies."
What receivership means for the farm and creditors
Under receivership, Hertz Farm Management will oversee the property to preserve assets and manage operations while the legal and financial disputes are resolved. That can include collecting rents, managing crop or livestock operations, paying taxes, and preparing the property for sale if required by the court. The appointment typically aims to protect the interests of creditors — including the lender that sought the court order.
Legal and campaign timelines remain unclear
Details about the specific allegations in the lawsuits and the status of the criminal investigation were not included in the Register’s summary, and court records or police statements cited in that reporting were not publicly attached to the news release. The Lahn campaign’s statement that refinancing is nearing completion, if realized, could affect how quickly the receivership is lifted, but that remains to be shown in court filings.
- Receivership action: Hertz Farm Management appointed by judge after lender petitioned the court.
- Civil suits: Two lawsuits alleging fraud and theft name Wulf or his company, per reporting.
- Criminal inquiry: Black Hawk County Sheriff’s Office has an active investigation.
Responses and next steps
The Lahn campaign’s denial and assertion of near-complete refinancing represent its public response to date. The Iowa Democratic Party has called for more transparency and answers about the lawsuits, reported debts and the criminal probe.
Because receivership and related court proceedings occur in civil court, updates typically appear in the county clerk’s docket entries or through filings by the parties and the appointed receiver. The criminal investigation by the sheriff’s office proceeds separately and may result in different timelines and potential charges depending on its findings.
| Party | Public position |
|---|---|
| Wulf / Lahn campaign | Denies fraud/theft; says refinancing near completion |
| Iowa Democratic Party | Calls for answers; highlights investigations and alleged debts |
| Law enforcement | Black Hawk County Sheriff’s Office has active investigation |
As the case develops, records from the court overseeing the receivership and statements from the involved parties and law enforcement will provide clearer details about the claims, the size and nature of any alleged debts, and how long Hertz Farm Management will remain in control. For voters, the unfolding legal matters raise questions about vetting and transparency within statewide campaigns as the 2026 election season continues.
Meredith Kowalski is the WE NEWS state correspondent covering government and politics in Iowa.
