Man Indicted In Alleged Cattle Scheme
Saturday, February 10th 2007, 2:27 pm
By: News On 6
OKLAHOMA CITY (AP) _ A former Elk City resident faces federal charges in connection with a scheme to defraud cattlemen, prosecutors announced this week.
Benny Gayle Biddy Jr., 37, now from Vernon, Texas, was indicted for wire fraud by a federal grand jury, U.S. Attorney John Richter said Friday.
Prosecutors allege Biddy received almost $59,000 from a Texas cattleman as part of an agreement to purchase and raise cattle, but that Biddy instead used most of the money to obtain cash and pay for personal living expenses.
If convicted, Biddy faces up to 20 years in prison and a fine of up to $250,000.