Press release: Portales auction owner arrested for embezzling
Ninth Judicial District Attorney Matthew Chandler announced today that the District Attorney’s Office arrested Randy Bouldin, age 39, on one (1) count of Embezzlement over $20,000.
The incident stems from December 2008, when Randy Bouldin, owner of Portales Livestock Auction, was commissioned to auction approximately 1,000 head of dairy cattle for a Portales dairy. After the auction, the buyers paid Bouldin over $450,000 for the purchase of the cattle. Bouldin took those funds from the buyer and deposited them into his own bank accounts. In turn, Bouldin then wrote the dairy owners a worthless check in the amount of $478,669.41. When the check did not clear, the dairy owners attempted to collect their money from Randy Bouldin. After several months of failed attempts, the dairy owners contacted the Ninth Judicial District Attorney’s office to investigate the matter.
An in-depth investigation by the District Attorney’s Office revealed that when Bouldin received the money from the cattle-buyers he deposited the money into his bank account, and then converted the money to his own personal use which constitutes embezzlement under New Mexico statute. Accordingly, a warrant was drafted for the arrest of Randy Bouldin.
District Attorney Matthew Chandler stated that, “The alleged conduct of embezzling nearly