Shop LocalTuesday, June 28, 2011
Kevin Ray Asbury, 44, a former Howard County man, pleaded guilty in federal court in Jefferson City Monday to operating two cattle fraud Ponzi schemes in which 28 victims, including The Callaway Bank of Fulton, were bilked of nearly $8 million.
The Callaway Bank lost about $2.7 million, according to the U.S. Attorney’s office in Kansas City.
By pleading guilty, Asbury must forfeit to the government all property involved in the bank fraud and wire fraud schemes, including a money judgment of $9,095,005.
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