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From PennLive WILLIAMSPORT A federal judge has awarded more than $550,000 damages in what he called a “sort of cattle-shifting Ponzi scheme.” U.S. Middle District Judge Matthew W. Brann on Tuesday granted summary judgment to Hottle Livestock of Ulster and Nicholas Farms of the Loganton area and ordered they be paid $336,003 and $225,144, respectively, plus prejudgment interest of 9 percent a year. The amounts represent the outstanding balance due on cattle transactions between December 2016 and July 2017. Nicholas claimed the agreed-to price for 231 cattle was $403,286 while Hottle said it was to be paid $641,878 for 350 cattle. Eugene Nicholas and Heidi Worden, who do business as Nicholas Farms, and Lynn Hottle, who does business as Hottle Livestock, conducted a series of transactions with Michael Rogers. He owns 47 percent of Medio Cielo. ....
Judge awards more than $550,000 for series of cattle transactions he calls a ‘Ponzi scheme’ Updated Mar 09, 2021; WILLIAMSPORT – A federal judge has awarded more than $550,000 damages in what he called a “sort of cattle-shifting Ponzi scheme.” U.S. Middle District Judge Matthew W. Brann on Tuesday granted summary judgment to Hottle Livestock of Ulster and Nicholas Farms of the Loganton area and ordered they be paid $336,003 and $225,144, respectively, plus prejudgment interest of 9 percent a year. The amounts represent the outstanding balance due on cattle transactions between December 2016 and July 2017. Nicholas claimed the agreed-to price for 231 cattle was $403,286 while Hottle said it was to be paid $641,878 for 350 cattle. ....