(EAST PETERSBURG, PA – LititzDailyNews.com) – A Pennsylvania cattle trader appears to have been roped into a $150,000 fraudulent herd transaction, according to police.
A commodities broker in East Petersburg reported to the Northern Lancaster County Regional Police Department on Monday that he was contacted by a potential client to purchase $150,000 worth of cattle. The buyer allegedly provided the broker with a bank letter of credit in the amount of $150,000.
The broker searched within the state for a pre-specified breed of cattle on behalf of the buyer. After locating a suitable herd, the broker reportedly scheduled a truck to transport the herd to a destination in New York State, according to police.
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“As the cattle were being transported to their destination, it was determined the bank letter of credit from the subject was fraudulent,” according to the Northern Lancaster County Regional Police Department.
The broker informed police that he directed the truck to stop and turn around with the live load and to return with the cattle.
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The trader told police that he was able to sell back half of the cattle he had purchased but was left with the rest of the beef herd. He informed police that as a result, he suffered financial loss of thousands of dollars to house and feed the remaining cattle stock to date. The broker stated his loss at $15,000 plus pending bills to transport, house, and feed the cattle, with costs to be determined.
The broker reported to police that he has not heard from the purchaser and that he suspects the suspect was arrested in New York on fraud charges, according to police.
The NLCRPD Criminal Investigations Unit is requesting that anyone with further information on this alleged crime contact the NLCRPD at 717-733-0965 or via the Crimewatch tip portal. The investigation could be aided by your beef tips.
Lynn Rebuck is the editor and publisher of award-winning LititzDailyNews.com. Follow LititzDailyNews.com on Facebook, Twitter, and Instagram. LititzDailyNews.com is an independent, innovative, and donor-supported news site. Make a non-tax-deductible donation today via the PayPal button below.
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