The northern Missouri woman charged with defrauding farmers out of at least 27-million dollars has pleaded guilty to federal charges. Cathy Gieseker, who ran a grain trucking and marketing company from her home in Martinsburg, pleaded guilty to mail fraud in federal court on Tuesday.
Missouri Agriculture Department Director Jon Hagler says it’s appropriate that Geiseker will receive punishment, but it won’t help the 180 farmers affected by her actions, “They’re gonna get very little return on the dollar. She’s gonna go to jail and she’s gonna pay the price but they’re still gonna be hurt.”
Hagler expects stiff penalties against her, “The level of fraud in this case, which she’s now admitted to – it’s a Ponzi scheme. A person in our department actually said it was “the Madoff of the Midwest” and unfortunately, that’s turned out to be true, in that – that fraud has cost many, many farmers their livelihood. In some cases, it’s altered their lives in ways they won’t be able to recover from.”
State charges against Cathy Geiseker are pending.


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