Eastern Livestock

Two men associated with a cattle brokerage company have pleaded guilty to a federal charge in connection with a scheme that cost 172 farmers more than $840,000.

The Glasgow Daily Times reports that Thomas P. Gibson and Michael Steven McDonald each entered a plea in U.S. District Court in Kentucky to one count of mail fraud.

They previously pleaded guilty in Metcalfe Circuit Court to charges related to the scheme and agreed to fully repay farmers who sold cattle to Eastern Livestock.

The plea on the federal charge was entered last month. Brian Butler, Gibson's attorney, told the newspaper that his client never meant to hurt anyone, but has taken responsibility for what happened.

Three former executives of a failed livestock firm based inĀ  New Albany, Indiana have been sentenced for their roles in swindling Kentucky farmers. Authorities say farmers should receive restitution as part of the sentences.

Four executives of Eastern Livestock have entered guilty pleas in court and will be ordered to pay restitution to 170 beef producers they de-frauded. Kentucky Attorney General Jack Conway says the pleas were entered in Barren-Metcalfe Circuit Court Tuesday morning.