Spanier Welding



National & World Ag News Headlines
Oklahoma Man Goes to Jail in Cattle Embezzlement Case
USAgNet - 04/17/2018

A man in Oklahoma has been arrested for allegedly embezzling more than $1 million in a scheme involving cattle as the collateral for a bank loan. A warrant was issued for Marty Robert Maahs, 33, and he turned himself into the Jackson County Sheriff's Department on April 12.

According to PorkBusiness.com, the investigation was led by Texas and Southwestern Cattle Raisers Association (TSCRA) special ranger Scott Williamson who began looking into the case in early 2017 after being contacted by Frazer Bank in Altus. Officials with the bank were concerned Maahs might be conducting illicit activities with a bank loan worth more than $1 million. Cattle were put up as collateral for the loan.

The investigation revealed that Maahs had sold cattle without payment to the bank. Other findings from the investigation was embezzlement of livestock funds, false statement and representation of collateral to the bank and the sale of mortgaged personal property without payment to the bank

Maahs has been charged with three felonies including: embezzlement greater than $25,000, obtaining by trick or deception greater than $1,000 and chattel encumbered greater than $1,000.

The three charges could result in up to 23 years in prison for Maahs and possible fines of more than $15,000. Maahs also must pay a restitution to the bank exceeding $1 million.

Maahs was booked into the Jackson County Jail after turning himself into authorities. He has since been released on bond while awaiting trial.

Send this article to a friend


Other National Headlines
International Protein Sires
Riverside Plastic Inc./RSI Calf Hutches
Copyright 2018 - USAgNet.com. All Rights Reserved.