SIOUX FALLS, South Dakota — Feedlot Pozni schemer Robert Blom was sentenced Thursday morning at the U.S. District Courthouse in Sioux Falls, after the court heard over two hours of testimony from friend and foe.
Blom, 59, of Corsica, was sentenced to 97 months in prison — with six months subtracted for time served — plus three years of supervised release after
pleading guilty in August to one count of federal wire fraud and one count of money laundering.
Blom’s sentence stems from a federal indictment in March 2020, which detailed about $10 million in funds related to his operation of a custom cattle-feeding business. Court documents say he altered purchasing documents to conceal his business operations, leading investors to believe his feedlot was more successful than it actually was and allowing him to sell the same group of cattle to multiple buyers.
A civil foreclosure case in Douglas County that was opened in 2019 involving the banks and the individuals that were victims of Blom’s remains ongoing. More than 70 parties have been listed claiming that Blom owed them money. First Dakota National Bank said Blom had overdrawn his bank account by more than $1 million and owes the bank more than $6 million.
In total, Blom scammed $24 million from 30 victims over a course of five years — including one victim who lost over $3.75 million.
