The Tractor That Secured Four Loans and Broke Eleven Lives copertina

The Tractor That Secured Four Loans and Broke Eleven Lives

The Tractor That Secured Four Loans and Broke Eleven Lives

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The Tractor That Secured Four Loans and Broke Eleven Lives

Trust collapsed in a small Nebraska town when one tractor, worth roughly $95,000, was used to secure nearly $1,000,000 in loans and helped produce $4,100,000 in losses-recoveries were only $412,000. How did trusted neighbors let a single piece of equipment become the linchpin of a scheme that left eleven families ruined?

In this episode, we tell how a local agricultural financier built credibility, enrolled farmers and community members, and used a legitimate leasing model as cover-then explore the moment a routine photo began to unravel the story; what did that image prove?

Person: Dean Mueller
Organization: Consolidated Ag Partners
Date: March 14, 2019
Market value: $95,000
Total losses: $4,100,000

- The tractor was pledged as security on four separate loan agreements to four separate lenders.
- The tractor's market value was roughly $95,000 while it secured nearly $1,000,000 in debt.
- Eleven families lost money in the scheme; total recovery was $412,000.
- One participant, Norma Yates, invested $48,000 that had been saved for her daughter's college.
- On September 22, 2018 at 6:41 AM Paul Turner photographed the tractor's serial number and service-hour meter, showing hours higher than the 842 hours listed on a January 2019 statement.

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