BISMARCK, N.D. (AP) — A Mandan man will serve four years in federal prison for bank fraud and transporting stolen livestock across state lines.
Kelly Glatt took out a $1.5 million loan to purchase cattle and supplies, but took steps to hide collateral and assets from the bank involved, according to prosecutors. Glatt, 39, was also convicted of stealing cattle from other ranchers and transporting the stolen livestock from North Dakota to South Dakota.
A federal jury found Glatt guilty last October of the crimes committed from February 2014 to July 2017.
“The defendant took advantage of and defrauded both hardworking ranchers and a North Dakota financial institution,” said Acting U.S. Attorney Nick Chase.
U.S. District Judge Daniel Traynor sentenced Glatt to four years in prison on bank fraud and three years for the transportation conviction. The sentences will run concurrently.
Traynor also ordered Glatt to serve three years of supervised release and pay restitution of $1.8 million.
The North Dakota Stockmen’s Association, the FBI and the Morton County Sheriff’s Office investigated the case.