Former Office Manager Sentenced to 60-Months in Prison for His Role in Embezzlement and Bank Fraud Scheme

     TUCSON, Ariz. – On Dec. 18, 2018, Seth Nichols was sentenced by United States District Judge Cindy Jorgensen to 60 months in prison.  Nichols had previously pleaded guilty to bank fraud.

     Nichols used several accounting schemes to embezzle approximately $3,000,000 from his former employer, Marana Stockyards and Livestock Market. He used some of the stolen money to purchase cattle for Nichols Cattle, Inc., a family owned-and-operated cattle business, ownership interest in a helicopter, a down payment for a home, and gambling excursions to Las Vegas. Nichols used elaborate techniques to hide the stolen money, including photo-shopping bank statements and altering internal accounting systems.

     The investigation in this case was conducted by the Federal Bureau of Investigation.  The prosecution was handled by the U.S. Attorney’s Office, District of Arizona, Tucson.