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Missouri woman suspect in $27M grain fraud

Monday, July 20, 2009 | 2:24 p.m. CDT; updated 4:15 p.m. CDT, Monday, July 20, 2009

JEFFERSON CITY — The owner of a northeast Missouri trucking company and grain elevator who owes farmers millions of dollars is facing state and federal charges.

Cathy M. Gieseker of Martinsburg has been indicted on federal charges of mail fraud, wire fraud and interstate transportation of stolen property. A federal grand jury handed up the indictments July 16, and they were announced Monday.

Federal prosecutors say Gieseker operated a $27 million Ponzi scheme.

Missouri Attorney General Chris Koster on Monday also filed 12 felony state charges that include filing false financial statements, unlawful merchandising and multiple counts of stealing.

Missouri regulators froze the assets of T.J. Gieseker Farms and Trucking earlier this year. Gieseker is the company's owner and only employee.

 


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