U.S. Attorney's
Office/Eastern District of Texas:
TYLER (KYTX) – A 26-year-old Ainsworth, Nebraska man has
been sentenced for misapplying funds owed to the Farm Services Agency in the
Eastern District of Texas, announced U.S. Attorney John M. Bales
today.
Michael Kord Chapman pleaded guilty on Aug. 22, 2012 to
conversion of mortgaged property and was sentenced to five years probation today
by U.S. District Judge Leonard Davis. Chapman was also ordered to pay
restitution of $83,622.42 to the U.S. Department of Agriculture Farm Services
Agency.
According
to information presented in court, between Feb. 18, 2011 and Apr. 7, 2011,
Chapman sold approximately 158 head of cattle valued at over $83,400.00 that had
been pledged as collateral on a loan from the Farm Services Agency. Instead of
paying the loan, Chapman kept the proceeds of the sale for himself and converted
them to his own use.
This case was investigated by the U.S. Department of
Agriculture, Office of the Inspector General, Office of Investigations, and
prosecuted by Assistant U.S. Attorney Jim
Noble.
