Million Dollar Cattle Embezzlement Case Lands Oklahoma Man in Jail

Farm Journal logo

A man in Oklahoma has been arrested for allegedly embezzling more than $1 million in a scheme involving cattle as the collateral for a bank loan.

A warrant was issued for Marty Robert Maahs, 33, and he turned himself into the Jackson County Sheriff’s Department on April 12.

The investigation was led by Texas and Southwestern Cattle Raisers Association (TSCRA) special ranger Scott Williamson who began looking into the case in early 2017 after being contacted by Frazer Bank in Altus. Officials with the bank were concerned Maahs might be conducting illicit activities with a bank loan worth more than $1 million. Cattle were put up as collateral for the loan.

The investigation revealed that Maahs had sold cattle without payment to the bank. Other findings from the investigation was embezzlement of livestock funds, false statement and representation of collateral to the bank and the sale of mortgaged personal property without payment to the bank

Maahs has been charged with three felonies including: embezzlement greater than $25,000, obtaining by trick or deception greater than $1,000 and chattel encumbered greater than $1,000.

The three charges could result in up to 23 years in prison for Maahs and possible fines of more than $15,000. Maahs also must pay a restitution to the bank exceeding $1 million.

Maahs was booked into the Jackson County Jail after turning himself into authorities. He has since been released on bond while awaiting trial.

In a release from TSCRA it is noted that, “financial crimes can have a detrimental impact on other law-abiding cattle producers. According to Williamson, when criminals defraud financial institutions, as alleged in this case, it can make credit harder to obtain and more expensive for others who rely on those same financial tools.”

This is the third arrest nationally since December involving more than a million dollars being embezzled via cattle.

On Dec. 28, 2017, a California man was arrested after allegedly defrauding more than a million dollars from prospective cattle buyers in a scheme that spanned four states. 

Nearly 90 people were defrauded out of $4.7 million in an investment fraud scheme involving the resale of cattle and put a Missouri man in police custody on March 28, 2018

 

Latest News

Patience Pays Off When Treating BRD

To stay on top of Bovine Respiratory Disease (BRD), producers find patience and persistence are two assets they need in their treatment plans.

Hulett: Packers Push for More Cattle

The spring rally in negotiated cash cattle prices continued last week as trade in the South developed early in the week with packers more aggressive than in recent weeks.

Total Quality Management – A Foundational Approach of BQA

Established product requirements in the beef industry may differ somewhat from one segment of the industry to the next, but there are some common expectations fundamental to each.

Divestment plan leads to ownership changes for 11 feedlots
Peel: Update on Beef Export Markets

Beef exports have evolved significantly in a very dynamic environment of global politics and trade policies; direct and indirect impacts of animal disease outbreaks; and growing beef preferences and consumption.

Carbon Contract Reality: Why Conservation-Minded Farmers May Not Qualify for Private Carbon Programs

The chase to capture carbon continues. It’s a possible new source of income for farmers and ranchers, but it's also bringing a set of challenges and questions. The answer could be both public and private programs.

Cattle Markets Surge Higher In Spring Rally

The reopening of restaurant and foodservice is driving beef demand to pre-pandemic levels and beyond, spiking wholesale beef prices $20 per cwt. higher this week, and more than $34 per cwt. higher over two weeks.