KANSAS CITY, KANSAS (BNO NEWS) – A Greeley, Kansas, cattleman pleaded guilty to one count of bank fraud of more than $9 million, U.S. Attorney Lanny Welch announced on Thursday.

Joseph C. Donohue, 70, admitted giving false information to Lyons State Bank in order to get loans for purchasing and feeding cattle. Donohue signed a promissory note for $.6 million in November 2007. He also granted the bank an interest in all livestock he owned and provided quarterly inventory reports on his cattle to secure the debt.

In September 2008, he claimed in an inventory report that his cattle value was more than $18.2 million when in fact it was around $3 million. Furthermore the defendant claimed to own 13,267 head of cattle, later on, the bank discovered that he actually had only 650 animals.

Donohue also obtained $3.2 million in loans from other lenders based on false financial statements. Donahue faces a maximum penalty of 30 years imprisonment.