$2 Million Farmers Exchange Case
In 2003 we located yet another bank that had abused the USDA's Farm Service Agency's Guaranteed Loan Program to cheat its farmer customers out of hundreds of thousands of dollars in excessive interest. The headquarters of that bank, The Farmers Exchange Bank of Cherokee, Oklahoma, is pictured at the right.
Using the little know century old "Lincoln Law" we filed suit on behalf of the United States Government in the United States District Court for the Western District of Oklahoma.
The Lincoln Law allows private "Whistleblowers" with knowledge of fraud against the US Government to act as private attorney generals or "Relators" to bring these actions.
Larry along with his partners Mike Bigheart and Roger Ediger represented two courageous such whistleblowers willing to seek recompense for the American Taxpayers cheated by this fraud using the Lincoln Law.
After considerable work and investigating we convinced the US Department of Justice to join us in our litigation and we eventually negotiated a generous settlement benefiting the American Taxpayers.
This settlement was consumated in the Spring of 2006 when the Farmers Exchange Bank of Cherokee, Oklahoma paid over $2.1 Million to the United States Government. This brought our recoveries for the American people under the FCA to over $18 Million in just 18 months.