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Former Creamery Executive Convicted in Fraud Case

By | August 1, 2014

A former executive of the now-defunct Alaska Creamery has been found guilty by a federal jury of making false statements to the U.S. Department of Agriculture.

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Karin Olson was convicted Wednesday on two felony counts involving federally backed state loans to Valley Dairy, Inc. in Palmer.

Prosecutors say Olson submitted false statements to the USDA’s Rural Development Program.

Prosecutors say Olson also failed to alert the government that she knew her business partner, Kyle Beus, was diverting federal grant money from the dairy to a failing restaurant.

Beus pleaded guilty last year to charges associated with misusing federal grants.

Olson remains free on bail until her Oct. 24 sentencing. She faces more than 30 years in prison.

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