‘Phantom' cows, missing millions spark scandal in Uruguay

Sandra Palleiro is on the hunt for her lost cows. The 60-year-old accountant is standing in a muddy field at the end of a farm track in Uruguay's remote border region with Brazil.

She has traveled 370 miles from the capital, Montevideo, to find 61 cattle she owns, at least on paper. The missing bovines were part of a 'cow bond' scheme that has collapsed, causing one of Uruguay's biggest ever financial scandals.

Politicians, radio hosts, pensioners and even priests are among the thousands now attempting to recover their savings — and their missing 'phantom' cattle, the number of which is proving hard to pin down.

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Post from Reuters on May 17, 2025

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