Man accused of defrauding bank of $5.8 million using cattle
DENTON, Texas (AP) — Authorities in Texas have arrested a man accused of receiving more than $5.8 million in bank loans by fraudulently using 8,000 head of cattle there and in Oklahoma as collateral.
Officials say 67-year-old Howard Lee Hinkle of Wichita Falls, Texas, was arrested Wednesday after he was indicted by a grand jury in Denton County for first-degree felony theft of more than $200,000.
Law enforcement says Hinkle defaulted on loans secured by the yearling cattle. But authorities say bank officials acting on a court order couldn’t find any of the animals.
Court records indicate Hinkle was booked into the Wichita County Jail and released on bond. They don’t list an attorney who could speak for him.
A voice message left at business listed under Hinkle’s name was not immediately returned.