Kiefer to Get His $1 Million Cattle Investment Back


If you're planning to screw someone out of a $1 million with a harebrained idea to buy cattle in Mexico and re-sell them in the U.S. at a higher price, the last person you want to mess with is Jack Bauer.

I mean, come on. Kiefer Sutherland not only gets wasted and head-butts fashion designers, he can have Chloe O'Brien stare you down until you choke on your own vomit.

But, one California cowboy tried to pull a fast one on 'Ole Kiefer and now he's stepped in a big pile of manure.

Yesterday, Michael Wayne Carr, pleaded guilty to three counts of grand theft and forgery for falsifying contracts and running a fraudulent cattle scheme costing investors including Sutherland over $1.5 million.

The scheme was pretty simple, and reminds us of a similar arbitrage involving groceries.

According to the San Joaquin County District Attorney's Office, Carr told Sutherland that he would buy cattle from Mexico and resell them for a significant profit in the United States. But, prosecutors say there is no evidence Carr ever bought any cows.

Carr agreed to pay nearly $1 million in restitution and serve up to seven years in prison. The 44-year old cowboy is scheduled to be sentenced on Nov. 1.


Miami Jeweler Busted in $40 Million Ponzi Scheme

Yet another South Florida mini-Madoff has been nabbed by the Securities and Exchange Commission for robbing unsuspecting investors out of their hard-earned cash. Luis Felipe Perez allegedly stole $40 million from 35 investors from 2006 through 2009 until his Ponzi scheme unraveled.

Art Samberg, Pequot Settle Insider Trading Charges for $28 Million

Like we told you several weeks ago, Art Samberg and Pequot Capital Management today agreed to settle insider trading charges with Securities and Exchange Commission for $28 million. The SEC Division of Enforcement's also brought a case against the alleged tipper, David Zilkha, a former Microsoft employee. That case will continue in an administrative proceeding before the Commission.

Kenneth Starr's $7.5 Million Ponzi Palace

Kenneth Starr's $7.5 Million Ponzi Palace