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Article: Swanson denies wrongdoing while at Countrymark.(David H. Swanson)(Countrymark Cooperative Inc.)(Statistical Data Included)
- Article from:
- Feedstuffs
- Article date:
- August 20, 2001
- Author:
CopyrightCOPYRIGHT 2001 Miller Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A former Countrymark official, David H. Swanson, has been indicted by a federal grand jury in Indianapolis, Ind., for fraud by wire, for the receiving of funds unlawfully convened and for money laundering -- all charges he denies.
The indictment brought forth by U.S. Attorney Timothy Morrison describes a "scheme" by Swanson for unlawfully obtaining more than $2.7 million from Countrymark Cooperative Inc. during 1996 and 1997.
Swanson became chief executive officer of Countrymark in early 1996.
The allegations are that after he became CEO, Swanson convinced Countrymark's board of directors to purchase Buckeye Feed Mills Inc. in Dalton, Ohio, ...