A grand jury indicted a man last week on 10 charges of conversion of property pledged to a farm credit agency.
The indictment against Blake Lawrence Kretchmar, born in 1983, alleges between March 21, 2016, and Aug. 25, 2016, within the Western District of Oklahoma and elsewhere, with the intent to defraud he knowingly concealed, removed, disposed of and converted to his own use and that of another, property pledged to and held by Farm Credit of Enid, PCA, a part of the Farm Credit Enid Administration.
Kretchmar deposited by check into his personal bank account the collateral and proceeds from selling collateral without remitting to Farm Credit of Enid, PCA, the property and proceeds therefrom that were pledged to Farm Credit of Enid, PCA.
The descriptions of collateral and proceeds from sale include: proceeds from sale of cattle, personal farming income from USDA Treasury payment, custom cattle care revenues and custom farming revenues. The total amount of deposits was $86,753.75.
Each count of conversion of property pledged to a farm credit agency is punishable by no more than five years in prison, a fine of up to $250,000 fine, or both; or three years supervised release.