BISMARCK — A Mandan, N.D., man has been sentenced to four years in federal prison for bank fraud and transporting stolen cattle across state lines.
U.S. District Judge Daniel Traynor sentenced rancher Kelly Anthony Glatt on Tuesday, April 6, in Bismarck.
Glatt took out a loan for $1.5 million on Feb. 20, 2014, so he could buy cattle and supplies, according to a news release from the U.S. Attorney’s Office in Bismarck. He then took custody of several individuals’ cattle, the release said.
Glatt was accused of trying to hide collateral and assets for the loan. He also filed an agricultural statutory lien in another person’s name illegally and transported stolen cattle that belonged to the bank and other victims from North Dakota to South Dakota, the U.S. Attorney’s Office said.
In October, a jury found Glatt guilty of bank fraud and interstate transportation of stolen livestock, though jurors acquitted him on count of interstate sale of stolen livestock.
Glatt also must pay $1.8 million in restitution.