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A Town of Sherman farmhand pleaded guilty Tuesday before Chief U.S. District Judge William M. Skretny to illegally selling off cows that were collateral for a federal loan.

Timothy Deland, 28, admitted taking out a $212,775 loan from the Farm Services Agency, an arm of the U.S. Agriculture Department, to buy cows and machinery and then selling 90 of the cows without authorization from the agency.

Assistant U.S. Attorney Kathleen A. Lynch said Deland signed a sworn statement acknowledging selling the cows for $110,125.

His plea is the result of an investigation by the Department of Agriculture, Office of Inspector General.