“These are the times that try men's souls.” | The name of the guy that bought Superior a few years ago, escapes me right now. He brought Richard Strober in to manage it. I had a few good talks with Richard in that time frame. This guy borrowed a lot of money from family & friends and banks as well, I was told. A lot of it was unsecured ( friends and family). I was told those people will never see their money.
I was told he had some cattle deals fall thru, so he kept borrowing on cattle he didn't own. He dug a hole he couldn't get out of.Those bankers need their brains checked. I was told this was going to be one of the biggest scams in the industry at the time. I've yet to read about it in any newspapers up to date. I was glad to hear Farm Credit took a hold of Superior. At that time when this all happened I was sitting on a couple of checks from Superior, my heart about fell thru the floor that day! I called my mother-in-law, had her run checks to the bank that day, they were good. I was told later that day from a my Farm Credit banker & Superior rep. that there was never any problems with Superior's money. That it was always secured. I was told when this happened, I'm guessing Farm Credit asked Richard Strober to step down as he came on board with this owner. Richard did nothing wrong I was told. Just that they wanted a house cleaning. They then brought Olde back in to run it.
I would sure hope Westerns money is covered as well as everybody else. Like somebody said it will be the little guy( truckers, feed dealers, repairmen,etc. ) that take a big hit from things like this. There's no reason for this kind of crap happening.
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Indiana Cattle Broker bouncing checks
