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  • Dairy Embezzlement

    Guard Your Dairy against Embezzlement

    Apparently, it happens more often than you think. Here are tips on protecting yourself.

    http://www.agweb.com/livestock/dairy...therine-merlo/

    Has it ever happened to you or someone you know?

  • #2
    I always suspected you guys would be a easy target.

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    • #3
      Yeah- like most dairy farmers have all kinds of money laying around for the taking. Some people are just dung.

      Comment


      • #4
        Heck, it's not just dairy farmers that deal with this stuff.

        I long ago discovered that my trusted book keeper was taking money from the farm to pay for her clothes, makeup, dinners out, lunch with friends, buying stuff for her kids/grandkids, her health bills, her kids college, and even a personal trainer at one time. She even puts some in a savings and retirement account in her name. I do get the fringe benefit of sleepin' with her from time to time but still I dunno why my wife- the book keeper- thinks she can do this stuff. I guess if she does her part to keep some beer in the fridge and food on the table, I should just keep on keepin" quiet about this money that up and disappears.
        Last edited by jabber1; 11-07-2014, 05:30 AM.
        “Democracy is the worst form of government, -------------------------------except for all the others.”

        ― Winston S. Churchill

        Comment


        • #5
          It's not only Dairy's - This happened just East of me - I can't believe they can think they can get away with -

          Posted: Friday, October 31, 2014 2:18 pm

          Frank Denzler Rushville Republican




          Following a lengthy investigation, Rushville resident Clarissa L. Spilman, was arrested recently on multiple felony charges.

          According to Rush County Prosecutor Phil Caviness, although innocent until proven guilty, Spilman is charged with four class “C” felony counts of theft.


          The charges stem from Spilman’s employment with Smith Implements, Inc., Rushville, where she worked since the 1990’s.

          Following an internal investigation by the company, a second investigation initiated earlier this year by Detective Alex Shave of the Rushville Police Department was undertaken following the report of internal theft at the Rushville business.

          The arrest and charges came nearly 12 months after Smith Implement Inc. was informed that an outside corporate audit of their financials would be conducted in the fall of 2013. Shortly after that announcement, Spilman contacted management at the implement business and informed them that for a substantial length of time she has stolen money from the company.

          At the time of the thefts, Spilman served as Smith Implements’ accountant. Once the Smith family was made aware of the theft, they began an extensive internal investigation that lasted until June of this year. It was during that audit process the severity and magnitude of the thefts were realized and that several hundred thousand dollars was missing.

          Although Spilman had worked for the company since the late 1990’s many of the records were no longer available or accessible due to a change of banks for the company and the thefts reported span only the period of time from 2007 to 2013.

          According to Shaver’s investigation – it was found that Spilman had taken hundreds of checks from Smith Implements Inc., manual check book and was using them for her own personal use and expenses.

          “I was advised that Spilman did not keep copies if theses checks so they wouldn’t be traced back to her and then she would randomly post them to different accounts in the books to make it appear that they went to different companies,” Shaver wrote


          The amount of money the Rushville woman is suspected of stealing unknown but is believed to be higher than the losses reported although the amounts that currently can be proved are as follows:

          2007 - $51,240.92

          2008 - $56,947.54

          2009 - $47,203.69

          2010 - $62,375.21

          2011 - $77,815.04

          2012 - $61,261.58

          2013 - $80,278.70

          The amount of money missing totaled nearly half a million dollars - $437,122.70.

          “We get cases of this nature from time to time. It took a lot of work to tie this investigation together,” Caviness said.
          Last edited by ECI; 11-07-2014, 05:40 AM.

          Comment


          • #6
            Oh ECI, drop the 2007 and add the 2014 and you can be thinking NEW Farm Bill...let's see,, still have
            to get the low and high off to get the running average...those dairy guys are just going to get jealous!

            Comment


            • #7
              Originally posted by PotterB View Post
              Guard Your Dairy against Embezzlement

              Apparently, it happens more often than you think. Here are tips on protecting yourself.

              http://www.agweb.com/livestock/dairy...therine-merlo/

              Has it ever happened to you or someone you know?
              I've witnessed a couple of cases on dairies. All of them involved cattle rustling in one form or another. Keeping account of cattle movements and eliminating cash transactions with approved vendors eliminates most of the opportunities for this sort of thing.

              Must have been a boring conference for this to make news. Everyone knows the real embezzlement is the western corn basis but I guess it is not politically correct to bring that up.

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              • #8
                Cheap grain...who's to gain?

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                • #9
                  Had three cows taken out of my tiestall barn a couple of years ago. Found them at the packing plant . I called the packer and they said they had some cows brought in that looked a lot different than what the farmer usually brought. Said if I could pick them out of the big pen they were mine. I did. Then the plant manager quietly tells the owner of the packing plant that the law is no cattle in a packing plant can ever leave alive! Took DATCP till the next day to come up with a solution. The cows are returned under full farm quarantine including escort to the farm. And all cattle including calves that leave the farm would go to slaughter only. And under ag dept. escort. That was a difficult month !

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                  • #10
                    Now your processors are "adjusting" their inventory product value against your milk check. Since Europe and NZ are selling $12 product, it got too scary this week for some co-ops to be holding product at twice that value. Our strong $$ plays a roll, too. I sure hope this just a little snowstorm, and not a blizzard. I've heard up to $2/cwt adjustment on the Oct. pay period.

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                    • #11
                      It looks like big price drops coming at us. We have been telling ourselves all year these prices are way too good to last especially with grain prices where they are. The farmers I talk to have been putting cash on the side for this coming downturn.But most dairy farmers have learned that long term we are probably better off taking market prices than trying to beat the market with hedging . Of coarse if you can't afford to ride the market to the bottom you should consider marketing .

                      The more optimistic farmers seem to say "I hope we can average $17 next year."

                      The more pessimistic farmers seem to say "I think we might only average $15 next year."
                      So I figure I 'm hoping for $17 but I'm planning on the $15.
                      Last edited by RON11; 11-15-2014, 09:36 AM.

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                      • #12
                        "Planning on $15" Your plan is to just let it come?, or you're going to sell it before it hits there, buy the insurance, beef the herd. $15 won't go too far in 2015 dollars, IMHO.

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                        • #13
                          Originally posted by PERCY View Post
                          "Planning on $15" Your plan is to just let it come?, or you're going to sell it before it hits there, buy the insurance, beef the herd. $15 won't go too far in 2015 dollars, IMHO.
                          You guys can't beef the herd. You told me over and over that you wouldn't wreck our beef market...again!!!!!!!!!!!!!!!!

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                          • #14
                            By plan on $15 I mean being careful with the replacing and upgrading stuff. I have no clue if the price will be $20 , $15 , or $10. I just know that historically most of the time I end up with less when trying to get more. So I figure I can survive whatever happens and will stay away from pre-selling my milk. I am under 50 years old so I hope people are kidding about beefing the herd. I got my herd out of my fathers herd and have decades invested in improving it It would take decades to reboot and I only have at most 2 decades left. But the national herd will reduce if prices plunge hard I suspect. Even herds like mine make some adjustment when the break even (pounds per cow per day) goes up because price goes down. Gettin ready for the down hill ride !!!

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                            • #15
                              Originally posted by 48 View Post
                              You guys can't beef the herd. You told me over and over that you wouldn't wreck our beef market...again!!!!!!!!!!!!!!!!
                              We've been HELPING your beef market all year by NOT CULLING!!! We're both gwanna take in the shorts with the piggies and chickies comin on strong!

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