PLAINVILLE, Kan. (KWCH) An auction date has been set to sell off the remaining assets of the Plainville Livestock Commission to settle its $14 million bankruptcy debt.
Bud Palmer Auction will hold the auction June 27 at 11 a.m. at the livestock commission property located at 907 NW Third Plainville, Kansas.
Last month, the Plainville Livestock Commissioners owners Tyler and his wife, Camden Gillum were indicted in a check kiting scheme that allegedly cost banks millions of dollars. The couple was charged with 31 counts of bank fraud, one count of making a false statement to the Small Business Administration in an application for a $1.5 million loan, and one count of making a false statement to Almena State Bank in an application for a $500,000 line of credit.
The indictment alleges investigators examined unfunded checks and wire transfers totaling more $2 billion sent by Tyler as part of the scheme. That included 409 wire transfers and 7,584 checks.
Bud Palmer said any funds from the auction that are greater than what is owed to Almena Bank, TBK, or other holders will go to the bankruptcy estate.