Archive for Wednesday, January 18, 2012

Jury convicts Colby man of selling mortgaged cattle

January 18, 2012

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— A northwestern Kansas man has been convicted of selling cattle that were mortgaged to the Agriculture Department's Farm Service Agency and keeping the money.

The U.S. Attorney's office says 26-year-old Travis L. Siebert, of Colby, was found guilty by a jury Tuesday of one count of conversion of mortgaged property.

Prosecutors say Siebert received three loans totaling $115,000 to purchase a bull, 60 cows and 90 feeder calves. He fell behind on loan payments in 2007 with about $84,000 left to repay.

The government says that Siebert schemed to sell the livestock from 2007 to 2010 under the names of at least three other people, and created a corporation to sell cattle.

Sentencing was set for April 2. He faces up to five years in prison.

Comments

Tony Kisner 3 years, 3 months ago

I've eaten mortgage beef before taste ok but I prefer Angus. Nothing to put a guy in jail for.

pace 3 years, 3 months ago

Now, two guys not to loan money to.

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