A Mandan man was sentenced Tuesday to four years in prison for bank fraud and transporting stolen cattle across state lines.
Kelly Glatt, 39, must also make more than $1.8 million in restitution to a bank and people with whom he had partnered or entered into agreements to care for cattle, according to Acting U.S. Attorney Nicholas Chase.
A federal jury in October found Glatt guilty of bank fraud and interstate transportation of stolen livestock. The jury found him not guilty of interstate sale of stolen livestock.
Glatt in 2014 took out a $1.5 million loan from a North Dakota bank for cattle and related supplies, and also took custody of cattle from several others as a caretaker, manager or partner, authorities said. Between 2014 and 2017, Glatt allegedly hid collateral and assets from the bank and other victims; filed a lien in another person’s name in an attempt to defraud the bank; and transported cattle belonging to others across state lines.
U.S. District Judge Daniel Traynor sentenced Glatt to four years for bank fraud and three years for taking the cattle across state lines. Glatt will serve the sentences at the same time. He must also spend three years on supervised release.