A rancher manager from West Texas has pleaded guilty to scamming at least 120 cattle from Henry Resources, an oil company. James Jones faces up to 20 years in federal prison on two wire fraud charges, U.S. Attorney Robert Pitman said.
Jones was hired at Henry Resources in March 2011. He was in charge of managing a number of the company’s properties, the Associated Press reported. He charged for management services and cattle purchases he never performed, according to authorities. He then used a large portion of the money for other things, including personal expenses, they said. It is estimated that the company lost more than $400,000 and found that around 120 animals were missing after a 2012 cattle inventory.
Jones’ sentencing will be in December. Currently, he is free on bond.