The owners of a sale barn in Kansas have been charged with carrying out a check kiting scheme by federal authorities after the fraud resulted in banks losing millions of dollars. Another case involving the livestock market has also tied up sale proceeds for local cattle producers.
On May 30, the Department of Justice announced that the previous day an indictment had been returned by a grand jury in Topeka. The indictment charges Tyler Gillum, 47, and his wife, Camden Gillum, 50, both of Plainville, Kan., with 31 counts of bank fraud and two separate counts of making a false statement. The Gillum’s, who owned Plainville Livestock Commission in Rooks County, had applied for a $1.5 million loan with the Small Business Administration and a $500,000 line of credit with Almena State Bank, both of which were done using false statements.