7-1-05 – The Bonham Livestock Auction shut down three years ago, and since then two of the owners have been charged with bank fraud. Dorothy Gibbs learned her fate yesterday. She was sentenced to a year and half in prison.
She’s also required to pay restitution, which is more than $300,000. In 2002, hundreds of livestock owners sold their cattle at the sale barn and were cheated out of that money.
Dorothy’s husband, Ronnie Gibbs, will be sentenced next month for bank fraud as well. However, these are only federal charges. They could face even more time in prison when they go to the state court.
All together, they are charged with 19 counts of theft by check. The livestock owners have only gotten back about 40% of what they lost.
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