ALBUQUERQUE, N.M. (AP) — A federal magistrate has appointed a receiver for a livestock auction business in Portales that was accused of engaging in unfair and deceptive practices.
The receiver will be responsible for conducting a review of High Plains Livestock's viability and will take over all aspects of its operations.
The court's order came Tuesday in a civil case started in August against the business and its owner and two operators.
High Plains Livestock operates a stockyard that primarily auctions cows from the dairy industry for a commission. The auctioned cows are sold to buyers who resell the cows for slaughter.
Federal authorities accused High Plains Livestock of misusing custodial accounts, failing to maintain accurate records, generating false documents, altering sales documents and misrepresenting the true purchasers of livestock.