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NS Canada | Big fraud coming to light in southern Alberta, where Kevin Serfas built up a 40k head feedlot, with fraudulent loans and fake cattle. His original yard was likely 3-5k head then he built this one (and another 20k head I heard?) and people didn't know where the money was coming from... turns out:
Him and Schootens (who likely control 250k head on feed) were signing unknowing people and emplyoees up for loans without their knowledge, or coercing them into it. They were also advocating for doing away with brands and relying solely on RFID tags, but then they were just making up unlimited tags, and an audit found the cattle didn't exist, or were being sold multiple time amongst their businesses.. Serfas farms 60,000 grain acres also
The affidavit is 185 pages long, but this is just the jist of it.
The Picture Butte Feeder Cooperative (PBFC) is Alberta's largest cattle financing cooperative, established in 1991. It assists cattle producers in acquiring livestock by providing low-interest, leveraged financing backed by a government guarantee as part of the Feeder Associations Loan Guarantee Program.
Edited by Supa Dexta 4/28/2025 14:13
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Alberta Cattle scam - Feeder Gate / 400 million fraud?
