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.

Read the story here, here and here.

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