There may not be shootouts on Main Street anymore, but Wild West-type scandals are alive and well across the cattle industry.
In 2023 alone, there was a number of instances of theft, fraud and cattle ponzi schemes.
Here’s a look at the top 5 from this year:
Three Florida Men Sentenced in $9-Million Frozen Meat Crime Ring
Arrested for approximately 45 thefts totaling over $9 million in loss, three Florida men were sentenced for stealing semi-loads of frozen beef and pork from packing plants across six Midwest states.
Arizona Border Rancher Accused of Killing Migrant, Now Held With $1 Million Bond
An Arizona rancher was arrested in connection with the death of a Mexican national who was shot and killed on the rancher’s property, literally yards north of the Mexican border.
Iowa Cattleman Faces 30 Years for Fraud, Theft
A Clayton County, Iowa, cattleman plead guilty Dec. 1 in Cedar Rapids federal court to livestock theft, wire fraud and one count of making a false bankruptcy declaration. The cattleman admitted he operated a large farming operation in Northeastern Iowa and operated an unlicensed custom cattle farm known as “Fawn Hollow.”
Texas-Based Cattle Company Accused of $191 Million Investment Fraud
Agridime LLC, Texas-based cattle company, is facing allegations of orchestrating a cattle Ponzi scheme involving $191 million in investor funds and undisclosed sales commissions. The Securities and Exchange Commission (SEC) took swift action, issuing a temporary restraining order, asset freeze and receiver appointment for Agridime on Dec. 14.
Kentucky Cattle Scheme With 78,000 Ghost Cattle Unravels
A massive fraudulent cattle scheme allegedly orchestrated by a Kentucky cattleman conned dozens of investors and a prominent agricultural lender out of $100 million, while his family – still grieving over the man’s suicide – faces financial peril.
While some of these stories seem a little too wild to be true, considering the prices of cattle and beef in the last year, there’s more reason to believe that these events occur.
Cattle rustling is still a concern, according to state brand inspection and livestock boards across the Midwest.
Read the full story: Cattle Rustlers Target Valuable Livestock: Are You At Risk?
Read More:
2023 Year in Review
Gov. Polis Releases Wolves in Covert Ceremony
