Witness: Rubashkins Committed Bank Fraud As Far Back As 1997

Rubashkins mislead bank, misused funds for more than a decade, former controller says.

Here's the money graph from the Des Moines Register's report:

• Plant executives were inflating their reported sales as far as back 1997, though on a much smaller scale in the earlier years, [Yom Tov "Toby"] Bensasson testified.

Now, where do you think that stolen money went? Underselling the competition to drive them out of business or out of geographic territories? Into 'tzedaka' for rabbis' institutions, rabbis who just happened to endorse Agriprocessors meat?

Inquiring minds – some of whom wear badges – certainly want to know.

Comments

[AGRI-vated Angel]

I'm thinking, if SMR is going to change his plea to guilty, it will be very ~
s-o-o-o-o-o-n.

Will the court 'bargain' with him? How is a change in plea handled 'midstream', during a trial?

[Yosef ben Matityahu]

sure he did, even earlier, sheneimor:
"Behold, he was brought forth in iniquity, and in sin did his mother conceive him." not a minute upright!

[joe]

I am not a cool aid drinker, but u guy's are way to sure that he's going to lose this case, most of these articles fail to say how his attorneys cross examined the witnesses, or they only write part of the cross examination, so if it all gets down to who has a better lawyer, he's going to with G-d help WIN, the prosecutor is some grayed haired loser who probable couldn't make it in private practice.

[nachos]

Joe:

If G-d were helping him, he would never have been charged and he would still be in charge of Agri. Just the opposite is happening. G-d has allowed this whole shanda to proceed.

[FirstGenerationBavarianAmerican]

There have been books written about companies such as Enron and Worldcom, detailing how they failed. The story about how this company failed would be an interesting read. But how to get figures and stories? Some clues will come out at the trials, but not about the truly bad (but legal) business decisions.

In large companies, there are often cases of corporate fraud, where an employee causes the company's funds to be illegally transferred to the employee. In a tightly held company, it would be possible to loot the company by moving money out of the company for the benefit of the crook. This would require money from investors or lenders or goods from trade creditors to be effective. I remember reading stories about the mob looting companies into bankrupty a number of years back.

A while back, I wrote about the Jimmy's Music World case and the George A. Tomasso Construction Corp. case. They undersold the competition. They also sold under cost. Consistantly.

[The sane one]

To Agri-vated angel, no he will not change his plea. The Rubishclan has some serious ties to MONEY! The prosecution will watch in disbelief as the ankle monitor makes it's way to the "Holy Land". This will happen when the defendants finally realize this is a lost cause. Money, man-hours, and a general sense of right and wrong---GONE!!!

[effie]

Will the court 'bargain' with him?

It would be the AG. The court doesn't have to accept a plea bargain, but it is the AG who has to dismiss some of the charges for a plea bargain. They may offer him one because it is a long trial. However, the prior offer is off the table. What was it? Twelve years? A new one would be much higher.

the prosecutor is some grayed haired loser who probable couldn't make it in private practice.

No, most AGs are career prosecutors. This is a very complex trial and I have no doubt that the prosecutor they chose to try it is experienced and quite good.

The prosecution will watch in disbelief as the ankle monitor makes it's way to the "Holy Land".

Nah. I'm sure the prosecution knows how these guys operate and are prepared for it. If he skipped during trial, they would continue trying him in absentsia and who ever put up bail would lose it. As soon as the jury comes back with convictions, he goes into the clink. I doubt they would release him on bail again. And if they did, it would be much higher than one mil.

[concerned citizen]

Just wondering: We haven't heard much if anything in the last few months about Elizabeth Billmeyer and Laura Althouse? What's their status and will they testify against Rubashkin?

[state of disgust]

Billmeyer and Althouse will probably testify in the illegal worker trial which comes up after this trial.