OT Farmer embezzlement

D

David G

Well-known Member

• Mar 12, 2012

• #1

A local Eastern Iowa farmer is being charged with embezzling 7 million dollars over a two year period. He inflated claims on pork produced to the bank.

How do you spend that much money and not have something to show for it?

 

S

samn40

Well-known Member

• Mar 12, 2012

• #1

I hope he writes a book on how to do it and the pitfalls to watch out for!!!!!
LOL.....Sam

 

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TimV

Well-known Member

• Mar 12, 2012

• #1

Oh, I think quite a few farmers could tell you it's not all that difficult to spend that much money and have nothing to show for it......

 

OP

OP

D

David G

Well-known Member

• Mar 12, 2012

• #1

The last 2 years profits have been good.

 

C

Cold Beer

Member

• Mar 12, 2012

• #1

Lose 10 grand a day at the casino would do it.

 

OP

OP

D

David G

Well-known Member

• Mar 12, 2012

• #1

I bet you are right. I dont gamble, so blows my mind.

 

J

Jason the Red

Member

• Mar 12, 2012

• #1

Hide it in untraceable bank accounts and convert it to cash!!!

 

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donjr

Well-known Member

• Mar 12, 2012

• #1

$7 million? Hide it somewhere. Go before some judge and tell him you didn't steal it, and won't do it again. Even if he gives you five years, $1.4 million per year ain't a bad paycheck. The abundant judges may even fine him $2 million and put him on probation for six months. Besides, he probably shouldn't have stolen it in the first place. The government hates competition.

 

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IaGary

Well-known Member

• Mar 12, 2012

• #1

What town was that by David?

I missed it. I am only about 30 miles from you to the southwest.

Gary

 

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john *.?-!.* cub owner

Well-known Member

• Mar 12, 2012

• #1

I am wondering if that was a loan application that he over reported his income on.

 

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fixerupper

Well-known Member

• Mar 12, 2012

• #1

Pay off the money he lost feeding cattle? LOL. I don't know if he fed cattle or not, but around here most of the former cattle feeders now have hog buildings. He could have been gambling, Vegas style. It's happened. Jim

 

T

Traditional Farmer

Well-known Member

Location

Virginia

• Mar 12, 2012

• #1

The Federal Gov't spends more than that per minute
and what do they have to show for it?

 

OP

OP

D

David G

Well-known Member

• Mar 12, 2012

• #1

Coggon Iowa, 15 miles north of Cedar Rapids. The report said he was forging the records from the packing plant and using that as collateral on loans.

 

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Fullthrottle

Member

• Mar 12, 2012

• #1

Probably hooked up with my X-wife. That would make it easy.

 

MarkB_MI

Well-known Member

Location

Motown USA

• Mar 13, 2012

• #1

A woman working for a local lawyer got sucked into a Nigerian scam and embezzled over two million dollars before she was caught. She had nothing to show for it, other than a happy scammer over in Africa.

 

M

MFPoor

Member

• Mar 13, 2012

• #1

Any mention of what became of the banks loan officer? Had to be a big dummy to let that much money go out the door without suspecting anything.

 

C

cd1

Member

• Mar 13, 2012

• #1

someone explain this to me better. I am trying to understand how you embezzel money from yourself?

 

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Ron in NS

Well-known Member

• Mar 13, 2012

• #1

wait a second... farmers have money?

 

K

kyplowboy

Well-known Member

• Mar 13, 2012

• #1

Must have. Last I heard mine was still live'n in a garage next county over.

Dave