Search
Better Farming OntarioBetter PorkBetter Farming Prairies

Better Farming Ontario Featured Articles

Better Farming Ontario magazine is published 11 times per year. After each edition is published, we share featured articles online.


Missouri grain dealer jailed in grain Ponzi

Monday, April 5, 2010

Missouri grain dealer Cathy Gieseker promised some farmers too much for their grain and paid them off by selling the grain of other farmers. She led a high life, spending millions of dollars on properties, gifts to friends and buying and showing cattle.

According to the St. Louis Business Journal Gieseker was sentenced to nine years in jail in February in connection with a $27 million Ponzi scheme, the largest grain brokerage failure in Missouri history. She pleaded guilty to one felony count of mail fraud and forfeited millions of dollars in personal property, but it won't be nearly enough to cover the losses of scores of farmers with no grain and no payment for their crop.

Gieseker had told farmers she had a special deal with a major grain company and offered prices twice the spot market at harvest. As futures prices rose in 2008, she was forced to pay an ever greater rate of return, according to Feedstuffs magazine.

The state is still pondering whether to file fraud charges. BF
 

Current Issue

June/July 2026

Better Farming Magazine

Farms.com Breaking News

Ontario Invests $7M in Agri-Food Innovation

Tuesday, May 26, 2026

The Ontario government is committing up to $7 million to support 34 new research projects aimed at transforming innovative ideas into practical, market-ready solutions for farmers and food processors across the province. Delivered through the Ontario Agri-Food Innovation Alliance, the... Read this article online

Falling Behind on Direct Alcohol Shipping Deadline

Monday, May 25, 2026

Canada’s small alcohol producers are growing increasingly frustrated as a promised timeline for direct-to-consumer (DTC) alcohol shipping reforms approaches with little visible progress. The Canadian Federation of Independent Business (CFIB) is calling out federal and provincial... Read this article online

BF logo

It's farming. And it's better.

 

a Farms.com Company

Subscriptions

Subscriber inquiries, change of address, or USA and international orders, please email: subscriptions@betterfarming.com or call 888-248-4893 x 281.


Article Ideas & Media Releases

Have a story idea or media release? If you want coverage of an ag issue, trend, or company news, please email us.

Follow us on Social Media

 

Sign up to a Farms.com Newsletter

 

DisclaimerPrivacy Policy2026 ©AgMedia Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Back To Top