An Overbrook man pleaded guilty Tuesday as part of a plea deal with federal prosecutors for his role in a Jefferson County cattle fraud case.
Dennis Stebbins, 58, was convicted of one count of conspiracy to commit bank fraud and money laundering to defraud the owners of J Bar Ranch LLC. Jay Aaron Wagner, 38, of Oskaloosa, pleaded guilty to the same charge last year.
Both men have now admitted to running the scheme against the ranch owners, Mick, Virginia, Mike and Judy Jamison.
In a deal with the defendants, the Jamisons required the cattle to be examined by a veterinarian. In exchange, the ranchers reimburse the men for the cost plus $2 to $3 per head.
Stebbins and Wagner admitted to fraudulently increasing the average weight and average cost of the cattle. They also fraudulently created documentation that the cattle were examined by a veterinarian.
In exchange for the guilty plea, prosecutors, Richard Hathaway and Christine Kenney agreed to drop eight other counts against Stebbins. He faces up to 30 years in prison and a $1 million maximum fine, but prosecutors will recommend a reduction in the sentence level, according to the agreement.
U.S. District Judge Richard D. Rogers will sentence Stebbins later in federal court in Topeka. Wagner is scheduled to be sentenced Nov. 20.