Friday, June 25, 2010
New Mexico Auction Owner Accused In $478K Embezzlement Case
Randy Bouldin, 39, of Portales, New Mexico, has been charged with embezzling more than $478,000 from an auction for 1,000 head of dairy cattle held by the auction firm he owns, Portales Livestock Auction. Authorities allege that in December 2008, Bouldin wrote a worthless check in the amount of $478,669 for auction proceeds to a customer, after depositing the actual proceeds into his own bank account. Authorities closed down Bouldin's auction house after a number of similar complaints were registered, specifically for “Serious violations of the Packers and Stockyards Act.” Bouldin also faces numerous civil actions for recovery of monies by former clients.