A livestock scheme put in motion by a western Kentucky man more than five years ago left investors and a prominent lender out of $100 million dollars and ended with perpetrator’s suicide.
The livestock news publication Drovers reported earlier this week that Benton farmer Brian McClain had been guaranteeing a significant return on investment if people put money into his cattle operations.
After years of doing this, some of McClain’s investors were paid with borrowed money and his inventory on paper had grown to 88,000 head of cattle.
The scheme unraveled after his lender ordered an inventory check in April, which found only around 10,000 head.
McClain died by suicide on April 18th, leaving his family in financial peril.
Drovers reports many of McClain’s alleged investors were local friends and neighbors, many of whom were shocked to be swindled by someone close to them.