Guilty Plea In Cattle Fraud Scheme

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A Bryan woman pleads guilty in federal court to charges stemming from a fraudulent cattle sale operation. Lisa Smith admitted guilt on 26 charges.

Smith entered more than two dozen guilty pleas on Thursday. She was charged with 12 counts of mail fraud and 14 counts of wire fraud.

Smith won't be sentenced until late January.

Two years ago Smith and her husband were ordered to pay $2 million dollars to settle a civil case brought against them by cattle investors.

The Smiths are said to have been selling cattle and mailing the documents to the investors, but the cattle were fictitious.