Home collateral Minnesota farmer convicted of USDA $ 1.4 million farm credit fraud

Minnesota farmer convicted of USDA $ 1.4 million farm credit fraud



ST. PAUL, Minn. – A man from Becker, Minn., Was sentenced to $ 1,403,578.40 in restitution, three years probation and 150 hours of community service for converting a guarantee that secured loans from the United States Department of Agriculture .

According to court documents, in 2017 and 2018 Robert Waldon John Anderson, 67, used false and fraudulent statements to obtain five Commodity Credit Corporation loans through a federal farm loan program administered by the US Department’s Farm Service Agency of Agriculture. Under the terms of the loan, Anderson agreed to hold bushels of corn as collateral, agreeing not to move or dispose of them without the prior approval of the Commodity Credit Corporation.

According to court documents, in late 2018, the FSA carried out a spot check and found that the corn bins Anderson had pledged as collateral for three of the loans were nearly empty. Anderson had sold the corn under a family member’s name to avoid detection by the CCC. The FSA also learned that Anderson orchestrated two fraudulent loans on behalf of family members for which no collateral actually existed. In total, Anderson defrauded the USDA of $ 1,425,718.36.

On May 6, 2021, Anderson pleaded guilty to one count of converting CCC security.

Acting US attorney Charles J. Kovats made the announcement after US District Judge Nancy E. Brasel convicted the accused.

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This case is the result of an investigation by the US Department of Agriculture-Office of the Inspector General, and was prosecuted by Assistant US Attorney Sarah E. Hudleston.