Phantom cows and missing millions spark scandal in Uruguay скачать в хорошем качестве

Phantom cows and missing millions spark scandal in Uruguay

Phantom cows and missing millions spark scandal in Uruguay #breakingnews #uruguay #scandal #scam #money #crypto A “cow bond” scheme in Uruguay has collapsed into one of the country’s biggest ever financial scandals, affecting thousands of investors to the tune of $350 million. People like Sandra Palleiro are on the hunt for a herd of more than 700,000 phantom cows that seems to only exist on paper. Emma Jehle has more. Three companies have gone bust and are being investigated for fraud. The co-owner of one firm involved has died by suicide. And the losses have reached some $350 million - sending shockwaves throughout the stable farming nation. Sandra Palleiro is on the hunt for some cows. In March of 2024, she sunk her life savings, more than $50,000, into a “cow bond” scheme offered by a local investment firm called Conexión Ganadera. The idea was that the cattle would be reared and sold for profit by livestock farms. Politicians, radio hosts, pensioners and priests are among some 6,000 people now attempting to recover their savings and their phantom cows, possibly up to 700,000 of them. Livestock is at the heart of Uruguay’s economy, a country home to some 3.4 million people, and 12 million cattle. There are similar investment schemes throughout South America. Many are legitimate. Conexion Ganadera is one of the biggest firms now under investigation for fraud. The first hint of the scandal at the company came in November 2024, when a Tesla Model 3 crashed at 130 miles per hour in the small city of Florida in central Uruguay. Behind the wheel was Gustavo Basso, a co-owner of Conexion Ganadera. A coroner concluded that he had taken his own life. Weeks after the crash, investors started reporting late payments. By January, the company confirmed it was short of nearly $250 million. Investors scrambled to withdraw savings amid reports that the firms did not hold as many animals as they claimed. Some filed suits for fraud. An investigation by Uruguay's Prosecutor's Office for Money Laundering Crimes is ongoing. An inventory of Conexion Ganadera carried out by a bankruptcy trustee estimated that as few as 70-80 thousand cattle actually existed of the more than 800,000 the company claimed to manage. Pablo Carrasco, the company’s co-owner, denies fraud allegations. Lawyers representing the company said they cannot comment on legal proceedings until testimony is given in court. Now, victims want to know how authorities failed to spot the problems - despite the cattle registry. The companies themselves were responsible for applying tags and adding information to the national database. Uruguay’s national cattle registry said it would not comment on the cases. Connect With news.com.au Online ► [https://www.news.com.au] https://bit.ly/3WC8hOP ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Follow Us: Facebook ► [  / news.com.au  ] Instagram ► [https://www.instagram.com/newscomauhq...] Podcast ► [https://newscomau.org/FromTheNewsroom] TikTok ► [@news.com.au] Twitter ► [  / newscomauhq  ] ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Subscribe To Our YouTube Channel For The Very Latest News From Australia And Around The World: ► [   / @newscomauhq  ] ► [   / @newscomauhq  ] ► [   / @newscomauhq  ] ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬