ND man sentenced for bank fraud and stealing livestock
MANDAN, N.D. (Valley News Live) - A North Dakota man is sentenced to four years in federal prison for bank fraud and stealing livestock.
Kelly Glatt, a 39-year-old from Mandan, was also ordered to pay $1.84 million in restitution.
Glatt took out a $1.5 million loan to buy cattle and livestock-related supplies, then hid personal assets and fraudulently filed a lien in another person’s name. Court documents allege Glatt told another man “I believe I was just able to rob a bank without using a gun.”
Prosecutors say Glatt also took custody of multiple other people’s cattle as either a caretaker or partner, then illegally transported the animals across state lines.
U.S. Attorney Nick Chase said, “The defendant took advantage of and defrauded both hardworking ranchers and a North Dakota financial institution.”
Officials say the crimes took place between February 2014 and July 2017.
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