Prosecutors say Dennis Stebbins of Overbrook was charged
Wednesday with one count of conspiracy to commit bank fraud and
money laundering and four counts each of bank fraud and money
Stebbins and Jay Wagner of Oskaloosa are accused of defrauding the owners of J Bar Ranch between 2003 and 2008. Prosecutors say the ranch owners made an agreement with Stebbins to buy cattle and required they be examined by a veterinarian.
Prosecutors said the duo conspired to inflate the weight and cost of the cattle and falsely claimed that the animals had been examined by a veterinarian.
Stebbins is due back in court May 29, and Wagner pleaded guilty
to one count.