Man gets 5 years, ordered to repay $3M for cattle fraud
TUCSON, Ariz. (AP) — A man has been sentenced to five years in federal prison and ordered to pay $3 million in restitution for stealing from an Arizona cattle stockyard.
The Arizona Daily Star reports Seth Nichols was accused of doctoring financial records at the Marana Stockyards and Livestock Market while working as the office manager, often sitting next to the victims of his fraud who he said in court had treated him “like a son.”
Nichols pleaded guilty in February to federal bank fraud in U.S. District Court in Tucson.
Nichols’ father, Donald Hugh Nichols, was indicted in August on bank fraud charges in connection with $1.6 million of allegedly fraudulent cattle sales at the stockyard’s auctions.
His trial is scheduled to start in late February.
Information from: Arizona Daily Star, http://www.tucson.com