Mandan man sentenced for bank fraud, stolen livestock
BISMARCK, N.D. (KFYR) - A Bismarck federal court sentenced Kelly Anthony Glatt, of Mandan, of bank fraud and the transportation of stolen livestock.
According to court records, Glatt, 39, took a loan from a North Dakota bank for $1.5 million to purchase cattle and livestock supplies.
Following the loan signing, from 2014 to 2017 Glatt hid personal assets from the financial institution, fraudulently filed a lien in another person’s name, and also transported cattle into South Dakota.
“The defendant took advantage of, and defrauded, both hard-working ranchers and a North Dakota financial institution,” said Acting United States Attorney Nick Chase. “The United States Attorney’s Office is committed to identifying, investigating, and prosecuting financial and agricultural based crimes.”
Glatt was sentenced to four years of prison for the fraud charges and three years for the livestock charges, which will run concurrently. He will then serve a three-year term of supervised release. Glatt was also ordered to pay more than $1.8 million in restitution.
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