The former Marana Stockyards and Livestock Market manager, Seth Nichols, was sentenced to 60 months in prison after pleading guilty to bank fraud.
According to the Department of Justice, Nichols used several accounting schemes to embezzle approximately $3,000,000 from his former employer, Marana Stockyards and Livestock Market.
Nichols used some of the stolen money to purchase cattle for Nichols Cattle, Inc., a family owned-and-operated cattle business, ownership interest in a helicopter, a down payment for a home, and gambling excursions to Las Vegas.
Nichols used elaborate techniques to hide the stolen money, including Photo Shopping bank statements and altering internal accounting systems, according to prosecutors.