RAPID CITY, S.D. (AP) A South Dakota feedlot operator who pleaded guilty to operating a Ponzi cattle scheme has been sentenced to nearly eight years in prison. Prosecutors said Robert Blom, of Corsica, resold the same cattle to multiple investors and made a profit of about $24 million from 2014 to 2019.
Ponzi cattle scheme operator gets 91 months in prison kvrr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kvrr.com Daily Mail and Mail on Sunday newspapers.
A South Dakota man will spend seven-and-a-half years in federal prison and owe more than $24 million in restitution after orchestrating a "cattle Ponzi scheme."