A 59 year old Corsica man convicted of Wire Fraud and Money Laundering has been sentenced (Nov. 4, 2021) in federal court.
Robert Blom must spend 91 months in federal prison, followed by three years of supervised release, $24,282,865.94 in restitution, and pay a special assessment to the Federal Crime Victims Fund in the amount of $200.
The conviction stemmed from incidents beginning on or about January 2014 and continuing through February 2019, when Blom, with the intent to defraud, devised a scheme to defraud others of money and property. Blom operated a custom cattle-feeding business in the Corsica area. As a part of his business, Blom solicited investors for groups of cattle. He purchased groups of cattle from various livestock companies and those groups of cattle were raised on feedlots owned or used by Blom. He raised the groups of cattle to maturity, and then sold them to processing plants. After the groups of cattle were sold, Blom paid the profits to the investors in the groups.
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