A man from Braymer pleaded guilty to a three-part fraud scheme that resulted in the loss of at least $293,772 from his victims, St. Joe Channel reported.
The government claimed Garland Joseph “Joey” Nelson, 21, committed $138,452 worth of loan fraud, $124,000 worth of livestock sales, and $31, 320 worth of insurance fraud, St. Joe Channel reported.
According to St. Joe Channel, “Nelson admitted that he engaged in a scheme to sell at least 114 mortgaged head of cattle that were pledged to the Farm Service Agency (FSA), without notifying FSA of the sales, from April 1, 2013, through June 2014.” Instead of remitting the funds to the FSA, he kept them for himself. Nelson violated his loans under false names and ceased to make repayments on them, St. Joe Channel reported.
Nelson also began removing identification tags from approximately 646 head of cattle that belonged to others but were placed in his care to graze, St. Joe Channel reported. Furthermore, Nelson made false claims to the Farm Bureau Insurance in order to collect insurance proceeds.
Nelson now faces a possible fine of $1,000 and up to five years in prison, St. Joe Channel reported.