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Man sentenced to federal prison

Forum News Service

MADISON, Wis. — A Prescott man has been sentenced to 2 1/2 years in federal prison for interstate transportation of securities obtained by fraud.

U.S. District Judge William M. Conley last week ordered Anthony Hood, 33, to pay restitution of $21,364.56 to the village of Ellsworth; $257,853 to Frontier Ag and Turf in New Richmond; and $300,000 to Federated Mutual Insurance Co., Frontier’s insurer.

Hood pleaded guilty in November to two counts of interstate transportation of stolen securities, according to the U.S. Attorney’s Office for the Western District of Wisconsin. Hood admitted that, while working as a Frontier manager, he sold John Deere tractors and other equipment to a Nebraska implement dealer, and that he diverted part of the purchase price by convincing the Nebraska dealer to send two checks for each purchase. Hood said he deposited the diverted checks into his checking account.

Hood also admitted obtaining funds from the village of Ellsworth to develop a NAPA auto parts store, and using false invoices to obtain money from the village.

Ellsworth Treasurer Peggy Nelson said the village entered into a developer’s agreement with Hood in November 2010 and the funds were transferred in January 2011.

Forum News Service
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