You legally can only insure so much through the crop insurance program. He was over the limit working 8000 acres. So to get around the cap he would put chunks in other peoples names ( employees, people he rented off of, etc) But at the end of the day, it was all his crop. He pocketed all the money even though according to the Feds it was someone elses grain. Part im not sure on is the the people who's names were on these policys were in on it or not. So far he's the only one being fined.
Another favorite of mine is the attempt at burying assets of the farm in his 20 year old grandson's name who has absolutely no prior background or obviously experience. Who do you think is going to be truly running things 🤔🤨.
Supposedly the price tag on the operation is 20 million ( fine is 19 million). What 20 year old has 20 million in credit or collateral to put up for that type of a loan? Dad, my brother, a neighbor and I had a conversation on this. All 4 of us together couldn't come up with remotely near the amount of collateral to cover a loan like that. And we all have more experience than the 20 year old grandson.
I brought this up as this is the 3rd farm of this scale in the state in the last 9 years that ended up with charges of fraud, racketeering or whatnot. Stamp farms, Boerson Farms ( still haven't got that mess settled yet) and now this one.