Man gets 10 years for $5M cattle-buying scheme

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FORT WORTH, Texas (AP) -- Prosecutors say a North Texas man must serve 10 years in federal prison for a cattle-buying scam that cost a Nebraska company more than $5 million.

Tony Eugene Lyon of Fort Worth was sentenced Friday in Fort Worth. The 52-year-old Lyon in November pleaded guilty to wire fraud.

Lyon was known to be involved in the buying, fattening and sale of cattle.

Prosecutors say Lyon in 2015 scammed Midwestern Cattle Marketing of Sidney, Nebraska. The firm, which bought and sold cattle for third-party clients, went out of business after the $5.1 million loss.

Officials say Lyon became an MCM representative and was authorized to write company checks, using a signature stamp. Prosecutors say Lyon operated a check-kiting scheme involving a fictitious company and kept MCM funds for himself.