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Commodities broker out more than $15,000 from a fraudulent purchase of cattle in Lancaster County

A commodities broker in Lancaster County was given a fraudulent bank letter of credit, and claims he has lost over $15,000 feeding and housing cattle.
Credit: Getty Images/iStockphoto

LANCASTER COUNTY, Pa. — A commodities broker was given a fraudulent bank letter of credit by a potential client in Lancaster County, causing him to lose over $15,000.

On Oct. 4, a commodities broker contacted the Northern Lancaster County Regional Police to report a fraudulent purchase of cattle for $150,000.

Authorities state the broker traveled within Pennsylvania to buy the pre-specified breed of cattle that was discussed in the original agreement. 

After completing the purchase, the broker scheduled for a ground loader cattle truck to load and transport the herd to a destination in New York. 

As the cattle were on their way to New York, the broker discovered the letter of credit was counterfeit and had the truck turn around to return the cattle before reporting the incident to police.

The broker hasn't heard from the purchaser since the fraudulent transaction and believes him to have been arrested in New York on charges of fraud, according to a police report.

Officials say while the broker was able to sell back half of the cattle he had purchased, he is now out more than $15,000 to house and feed the remainder of the herd.

The Northern Lancaster County Regional Police are investigating this incident.


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