Oxford tobacco buyer pleads guilty in insurance fraud scam

RALEIGH -- An Oxford tobacco warehouse owner pleaded guilty in federal court Monday to a fraud insurance scam and could face up to five years in prison.

Keaton Rankin's charges include conspiring to make false statement, making material false statement, committing mail and wire fraud, and structuring transactions.

Rankin, from September 2006 to November 2007, conspired with others to defraud the Federal Crop Insurance Corporation, according to a Department of Justice news release. The government lost $ 400,000 in the deception.

In the scheme, co-conspiring farmers would obtain insurance policies for their crops, and then file false crop insurance claims. They hid their tobacco production by selling it in small volumes for cash or under fake names to evade reporting requirements.

Rankin, among others, paid in cash or in checks to false names to hide the sales, so the farmer would be paid for their crops twice: by buyers and the federal insurance company governed by the Department of Agriculture.

Farmers gave Rankin better prices when Rankin allowed them to pay cash, so he also benefited by earning more per pound of tobacco. He sold the crop to United Tobacco Company, and worked with an employee of Universal Leaf North America to conceal sales, the news release states.

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The Greatest Medical Phony in History - The Pain, Profit and Politics of AIDS

Does HIV really cause AIDS? Can we really believe the pharmaceutical industrial complex? Could it be that after so many years of research, and so much money being spent, that the entire orthodox medical establishment has been wrong about AIDS, or even worse, has sought to profit from a system that it KNEW was flawed from the beginning? Join legendary documentarian and best-selling author Gary "Mr. Natural" Null, Ph.D., for a journey into the darkest recesses of the medical industry - a journey that not only asks the most painful questions, but even proposes the most intriguing truths about a disease we continue to know so little about. For more information and in-depth investigative reports visit garynull.com

Video Rating: 4 / 5



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