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shop online at www.missourivalleyshopper.com March 24, 2020 • Page 12 Corsica Man Indicted For Fraud And Money Laundering In Multi-Million-Dollar Cattle Ponzi Scheme United States Attorney Ron Parsons announced that a Corsica, South Dakota, man has been indicted by a federal grand jury for nine counts of Wire Fraud, six counts of Mail Fraud, and seventeen counts of Money Laundering. Robert Blom, age 58, was indicted on March 3, 2020. He appeared before U.S. Magistrate Judge Veronica L. Duffy on March 16, 2020, and pleaded not guilty to the Indictment. The maximum penalty upon conviction is up to 20 years in federal prison, and/or a $250,000 fine for wire fraud and $500,000 fine for money laundering, 3 years of supervised release, and up to $3,200 to the Federal Crime Victims Fund. Restitution may also be often by check. The estimated loss amount at this time is approximately $20 million. The charges are merely accusations and Blom is presumed innocent until and unless proven guilty. The investigation is being conducted by the Federal Bureau of Investigation, the Internal Revenue Service-Criminal Investigation Division, and the U.S. Attorney’s Office. Assistance has also been provided by the South Dakota Division of Criminal Investigation, South Dakota Attorney General’s Office, Douglas County States Attorney, Douglas County Sheriff, South Dakota Brand Board, North Dakota Brand Board, and the Montana Brand Board. Assistant U.S. Attorney Ann M. Hoffman is prosecuting the case. Blom was released on bond pending trial. A trial date has not been set. investors. Each invoice should have been used for just one group of investors, but Blom knew that he did not have and could not purchase as many head of cattle as he represented to investors. Sometimes Blom altered the cattle purchase invoices in an effort to conceal that he sold the same group of cattle to multiple different investors. Also as part of the scheme and artifice, Blom falsely and fraudulently represented to investors that he would use their money to purchase groups of cattle and to care for those cattle. Instead, he routinely used money from new investors to pay back old investors. On multiple occasions, Blom mailed invoices and other investment-related documents to investors and several investors mailed their investment payments to him. Also on multiple occasions, Blom received payments from investors, often by check and Blom also paid old investors, ordered. The Indictment alleges that beginning on or about January 2014 and continuing through February 2019, Blom devised a scheme to defraud investors. Blom operated a custom cattle-feeding business in the Corsica area. As part of his business, Blom solicited investors for groups of cattle. He purchased groups of cattle from various livestock companies and the cattle were raised on feedlots owned or used by him. Blom raised the cattle to maturity and then sold them to processing plants. After the groups of cattle were sold, Blom paid the profits to the investors in the groups. It is alleged, however, that Blom sold the same groups of cattle to multiple different Need people to find your business? Get your display ad here! MV Shopper MV Shopper M I S S O U R I VA L L E Y NOTICE: www.missourivalleyshopper.com 665-5884 M I S S O U R I VA L L E Y STAYCATION Spend Quality Time Together Ad/Insert Hy-Vee, Inc., has announced that for the time being, Hy-Vee is suspending its weekly corporate advertising circular that is distributed to all stores and found in many local newspapers. Due to the current high demand for many products, suppliers are unable to guarantee the fulfillment of certain products. This makes it difficult to determine in advance which products can be advertised in print publications. Spring Savings Event Big Savings On New & Used Hot Tubs Specials On All Floor Models So for the unforeseeable future you will not find the Hy-Vee ads/inserts in the Yankton Daily Press & Dakotan or the Missouri Valley Shopper. March 24th to April 7th LEISURE WORLD, INC. 1900 Broadway Ave., Yankton, SD 605-665-1240 Spas • Swimming Pools • Saunas 2500 S. 13th St., Norfolk, NE 402-371-8425 www.leisureworldsd.com Presents 0 % Financing for 84 Months On NEW ‘15 TOYOTA SIENNA SE Loaded Moody Price STK 685754 $ 22,995 ‘17 FORD ESCAPE SE Moody Price STK A50328 $ 16,995 ‘19 FORD F-150 CREW CAB 4X4 Platinum Moody Price STK C49174 $ 45,995 ‘13 FORD EDGE LIMITED AWD Moody Price STK A03452 $ 9,995 W.A.C. 2019 Vehicles ‘16 FORD EDGE SPORT AWD ‘19 FORD F-150 CREW CAB LARIAT 25,000 Miles Moody Price STK C11478 $ 28,995 ‘13 HONDA ODYSSEY VAN SE Moody Price STK 053008 $ 12,995 4X4 Moody Price STK C05825 $ 41,995 ‘16 FORD FOCUS 49,000 Miles Moody Price STK 212699 $ 9,995 Open 6 Days A Week HOURS Monday thru Friday 8:00 a.m. - 5:30 p.m. Saturday: 8:00 a.m. - 4:00 p.m Sunday: Closed www.moodymotor.com • 1-800-745-5650
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