2010-06-02 / Farm & Ranch

Rancher sentenced for bank fraud

WICHITA, Kan. (AP) - A central Kansas man who admitted lying about owning cattle to secure a bank loan is going to prison for 15 months.

Forty-five-year-old Patrick Renz of Rush Center had pleaded guilty earlier this year to bank fraud. Federal prosecutors announced the sentencing Monday.

Renz admitted obtaining loans from Community Bank of the Midwest in Otis in 2006 and 2007 by fraudulently claiming to own cattle that were accepted as collateral.

Prosecutors say Renz defaulted on the loans and owes the bank more than $184,000.

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