Eastern Livestock victims splitting another $300K

By: Associated Press Email
By: Associated Press Email

Victims scammed by the now-defunct Eastern Livestock company are splitting another $300,000 in restitution.

Kentucky Attorney General Jack Conway says 170 checks were sent out to farmers last week to reimburse people who lost money in the check-kiting scheme. The total victim restitution paid now stands at $600,000.

Metcalfe County Circuit Judge Phil Patton on Tuesday sentenced the former Eastern CEO, 71-year-old Thomas Gibson, to 10 years in
prison. Gibson, the founder of the New Albany, Ind.-based company, also faces a federal mail fraud charge.

Gibson and former chief financial officer Steve McDonald pleaded guilty in March to criminal syndication and 172 counts of complicity to theft by deception. McDonald was previously sentenced to 10 years.

Two other former executives were ordered to make restitution of $890,000.

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