South Dakota man indicted in $71 million organics fraud
SIOUX FALLS, S.D. (AP) — Federal prosecutors have charged a Rapid City businessman in what they say was a $71 million fraudulent scheme to sell fake organic grain and seed.
He used the profits to fuel an extravagant lifestyle that included a yacht, a multi-million dollar home, and luxury cars, court documents allege.
Kent Duane Anderson was booked into the Pennington County jail after the U.S. Attorney’s Office filed an indictment for wire fraud and money laundering. Federal prosecutors allege that he used a network of South Dakota businesses to sell non-organic grain and seed products as organic.
Anderson made a profit of about $25 million from the fake organic sales from October 2012 to December 2017, according to court documents.