More On Postville's Agriprocessors...
More Postville Iowa Pride...
Iowa's Agriprocessors meatpacking plant agreed to pay $1.4 million last year to settle allegations that it participated in a fraudulent scheme to hide another company's assets.
The allegations revolved around Allou Distributors, a pharmaceutical company controlled by Herman Jacobowitz of New York. Allou filed for bankruptcy in 2003, shortly after its Brooklyn warehouse was torched.
The bankruptcy trustee in the Allou case accused the Jacobowitz family of orchestrating a "long-running and massive fraudulent scheme" to loot the company of millions of dollars by artificially inflating the company's assets. By exaggerating the company's value, the trustee alleged, the family was able to gain additional leverage to borrow money from lenders and convert company assets for their own personal use.
Read Article...
Illegals
immigration
Iowa
ICE
Postville
Agriprocessors
<< Home