Rancher Charged in Bank Fraud Case
By: Import User
Updated: May 23, 2007
A San Angelo Rancher Could Be Facing A Fine Of Up To One Million Dollars, And A Federal Prison Sentence, After Being Charged With Bank Fraud.
A Federal Grand Jury Indicted Andy Luna For Allegedly Borrowing Money From The San Angelo Banking Center To Purchase Livestock Then Selling The Livestock He Purchased And Failing To Repay The Loan.
Hes Also Accused Of Providing Investigators With A False Inventory Of Cattle, And Claiming That He Had Used The Money To Purchase Calves Which Were Sold From A Feedlot Without His Knowledge.
Along With A Fine, Luna Could Also Be Sentenced To Federal Prison If Found Guilty.
His Trial Is Set To Begin In Federal Court In Lubbock On July Second.
