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NW Iowa | Back in the 80’s we had a local Deere dealer who was in cahoots with a local banker. Dealer used the asset sheets and ID’s from customers who financed machinery through Deere to borrow personal money for himself from this banker. The bank went under and the farmers who’s names were fraudulently used got registered letters ordering them to pay up on loans they did not know they had under their names. It took a long time and a lot of nail biting to convince the bank regulators these loans were fraudulent. As far as I know the banker went to prison but the Deere dealer did not. | |
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Give this some thought before your next equipment purchase
