Texan who put up phantom cattle as collateral jailed in $5.8 million fraud case
A Wichita Falls man arrested in a multimillion-dollar cattle fraud investigation could face up to life in prison if convicted.
Howard Lee Hinkle, 67, was arrested Wednesday night after a 16-month investigation by the Texas and Southwestern Cattle Raisers Association.
The alleged crimes spanned 10 counties in Texas and Oklahoma, involved 8,000 cattle and included outstanding loans of more than $5.8 million, authorities say. Hinkle faces first-degree felony charges of theft.
The association was first contacted in March by the First United Bank in Sanger. Bank officials said Hinkle had failed to make payments on loans with balances adding up to more than $5.8 million. They got a court order to collect the 8,000 cows that were put up as a collateral, but they were unable to find any of the cattle at locations Hinkle had given the bank.
Read more: https://www.dallasnews.com/news/crime/2018/06/28/texan-put-phantom-cattle-collateral-jailed-58-million-cattle-fraud-case
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