A 52-year-old man is heading to federal prison for 10 years after pleading guilty in a scheme involving $5 million that was supposed to be used to buy cattle.
Tony Eugene Lyon was sentenced Friday in Fort Worth by U.S District Judge John McBryde, the U.S. Attorney’s office announced in a news release. Lyon pleaded guilty to one count of wire fraud in November.
He had been working as a representative for Midwestern Cattle Marketing, buying and selling cattle for the Nebraska-based company in the Perrin area, northwest of Fort Worth, according to court documents.
In 2014, he suggested to the company that it could save money if it bought cattle directly from him. The company provided him with checks and a signature stamp, allowing him to make purchases without authorization, the court documents said.
From February to June in 2015, Lyon told the company that George Cattle Company in Fort Worth and its owner, John George, bought cattle from Midwestern Cattle Marketing 130 times.
In reality, George Cattle Company and John George didn’t exist, and Lyon was writing checks to himself to pay off personal debt and other expenses, the court document said.
As a result, Midwestern Cattle Marketing lost $5,137,449 and went out of business.
The FBI investigated the case and assistant U.S. attorney Nancy Larson prosecuted, according to the news release.