News and Press Releases

Texas Man Sentenced
For Cattle Fraud In Kansas

FOR IMMEDIATE RELEASE

 

Dec. 3, 2013

WICHITA, KAN. – A Texas man has been sentenced to 21 months in federal prison for cattle fraud in Kansas, U.S. Attorney Barry Grissom said today.

William P. Cadle, 50, DeKalb, Texas, was sentenced Monday in U.S. District Court in Wichita. He pleaded guilty to one count of loan fraud and one count of criminal conversion.

In his plea, Candle admitted that on Feb. 6, 2012, he committed loan fraud against First National Bank in Independence, Kan. He obtained a loan from the First National Bank and identified cattle to be used as collateral for the loan. The security agreement grossly overstated the number of cattle he had to collateralize the loan. The security agreement also identified Angus cattle purchased with a Farm Service Agency loan as belonging to Cadle. In fact the cattle were purchased by Cadle’s son with a loan from the Farm Service Agency, and Cadle did not have enough collateral to secure his loan from First National Bank.

From September 2011 to March 2012, Cadle began selling the cattle secured by the Farm Service Agency loan. He concealed the fact the cattle were mortgaged by FSA and he did not make payments to FSA upon the sale. By the spring of 2012 he had sold all the cattle.

Grissom commended the U.S. Department of Agriculture and Assistant U.S. Attorney Aaron Smith for their work on the case.

 

 

Return to Top

USAO Homepage
USAO Briefing Room
Civil Rights Symposium Registration
Stay Connected with Twitter
Project Safe Childhood

Project Safe Childhood

Civil Rights

Civil Rights Initiatives.
Toll Free Number
1-855-321-5549

Law Enforcement Coordinating Committee

Training and seminars for Federal, State, and Local Law Enforcement Agencies.

Victim Witness Assistance

Making sure that victims of federal crimes are treated with compassion, fairness and respect.