—Lancaster Farming, Saturday, February 10,1979
134
Livestock transaction crimes
KANSAS CITY, Mo. -
Livestock Marketing
Association (LMA) has
announced a three-front
drive to substantially reduce
the incidence of crime in
livestock transactions.
Recent increases in
fraudulent schemes, em
bezzlement and marketing
thefts are parallel to an
increase ~in white collar
crime, according to officials
of the marketing sector
trade group, based here.
Estimates of losses in excess
of $3OOO million are at
tributed by LMA directly to
criminal activities in 1978.
“We have established an
industry alert system, an
anti-fraud investigative unit
and we seek uniform state
and federal criminal laws
with strict penalties, to
combat the growing in
cidents of direct losses due to
fraud and embezzlement in
livestock transactions,”
according to C. T. ‘Tad’
Sanders, general manager.
“Several leading
agriculture magazines have
recently featured articles
highlighting isolated tran
sactions which, by distorting
the amount of criminal
activity in livestock tran
sactions, tend to condemn
the entire marketing sec
tor,” according to Sanders.
“With an estimated $4O
billion dollars in livestock
marketing transactions in
the United States and
Canada last year, any one
theft or fraudulent scheme
doesn’t stand up as very
large. Our estimate of $3OO
million in losses through
criminal activities is only %
of one per cent of the total.
“But, regardless of the
percentages involved, these
losses are a brutal blow to
those who are victimized,
and can and must be
reduced,” he said.
Sanders emphasized that
his estimates of losses in
fraudulent transactions are
separate from losses in
curred in business failures
and bankrupticies.
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“Given the size and
geographical scope of the
marketing sector, the daily
risk exposure is tremendous,
and the relatively small
ratio of losses to the total
annual volume of tran
sactions reflects favorably
on the industry’s overall
integrity,” he noted.
Through the industry
alert, any livestock owner
can report suspicious cir
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purchase or sale of livestock.
By contacting any of LMA’s
1300 livestock market,
dealer and stockyard
company subscribers in the
U.S. and Canada, the in
formation will be fed by the
subscriber into a special
anti-fraud unit in LMA’s
officeshere.
The unit will be conducted
by Livestock Board of
Trade, Inc. (LBT-), a special
LMA service company well
experienced in payment.
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credit and exchange in
formation throughout the
marketing sector. LET will
privately carry . out in
vestigations of all suspicious
transactions, and report its
findings to appropriate
government authorities for
criminal prosecution.
Present LMA livestock
laws reform activities' will
be stepped up and pin
pointed toward enactment of
tougher state and federal
laws defining criminal ac-
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Sanders noted that the
Freedom in Livestock
Marketing Act, introduced in
the Senate in 1977 and the
basis for Jast ' year’s
marketing tariff
deregulation, included these
tough provisions. LMA is
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livestock commerce,
coupled with higher prices,
have attracted “the un
scrupulous and the criminal
element ,to our industry to
the degree that this positive
action became necessary,"
Sanders said.
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X 7
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