Jackson, Miss. – Edward Lott, 25, of Mendenhall, pled guilty today before U.S. Chief District Judge Daniel P. Jordan III to converting federal monies to his own use without authorization, announced Acting U.S. Attorney Darren J. LaMarca and Anthony Mohatt, Acting Special Agent in Charge of the United States Department of Agriculture, Office of Inspector General.
On March 4, 2014, Edward Lott applied for a loan in the amount of $24,000 with the Farm Service Agency to purchase cattle. The Farm Service Agency is an agency overseen by the United States Department of Agriculture. Lott and the Farm Service Agency entered into an agreement granting a security interest in all cattle currently owned and to be acquired by him. An inspection of Mr. Lott’s cattle operation was conducted in January 2015. At that time, 11 cows, one bull and four calves were owned as part of the operation. A follow up inspection occurred in November 2015, where no cattle were found. Mr. Lott admitted that he had sold the cattle that had been pledged as security for the loan and converted the monies for his own use without the approval of the Farm Service Agency.
Lott is scheduled for sentencing on June 30, 2021 at 9:00 a.m. and faces a maximum penalty of 5 years in prison and up to a $250,000 fine.
The investigation was conducted by the United States Department of Agriculture. The case is being prosecuted by Assistant United States Attorney Erin Chalk.