SIOUX FALLS, S.D. (AP) – Federal prosecutors have charged a Rapid City businessman in what they say was a $71 million fraudulent scheme to sell fake organic grain and seed.
Court documents describe how Kent Duane Anderson used the profits to fuel an extravagant lifestyle that included a yacht, a multimillion dollar home and luxury cars.
The U.S. Attorney’s Office last week filed an indictment for wire fraud and money laundering against Anderson.
Prosecutors allege he sold non-organic grain and seed products as organic.
Documents show Anderson made a $25 million profit from the fake organic sales from October 2012 to December 2017.