OKLAHOMA CITY — A veterinarian in Cordell has been sentenced to a year and a day in prison for bank fraud.
US Attorney Sanford Coats says 63-year-old David Sturgeon was sentenced Tuesday in federal court in Oklahoma City. Sturgeon had pleaded guilty in March to making false statements in order to obtain bank loans.
Sturgeon admitted that he secured loans to allegedly purchase cattle — but instead used the loan to pay margin calls to a commodities trading account with a Chicago firm.
Sturgeon was also ordered to pay nearly $893,000 in restitution.