Audio Transcript

Mr. Schiff: A $2.5 million dollar cattle fraud scheme in Texas. And FBI Special Agent Nikki Allen was one of the investigators…

Ms. Allen: "In 2003 we received information from the Bryan Police Department; they had received numerous complaints from victims that had lost money in the cattle scheme."

Mr. Schiff: Allen says Bryan police and the FBI began gathering evidence and then got a search warrant for the suspect's residence…

Ms. Allen: "Where additional evidence was found that supported the allegations made by the victims in this case."

Mr. Schiff: A 34-year-old Texas woman was a suspect. Allen says victims paid her $600 while the suspect claimed to be a post-doctorate student at Texas A&M and lying to the investors saying…

Ms. Allen: "These cows would be purchased from these large ranches in Texas, brought to A&M, genetic research would be conducted upon them, and then the university would sell these cattle back to the ranches with this new and improved genetic substance in them."

Mr. Schiff: Not true. The woman plead guilty to mail and wire fraud. She was sentenced to 70 months in prison and ordered to pay back all the money. I'm Neal Schiff of the Bureau and that's the FBI's Closed Case of the Week."