Oklahoma Man Sentenced to 29 Yrs, $1.2 Million in Restitution for Selling Cattle He Didn’t Own

First posted on 10-22-2007

A Logan County judge recently ordered Jack Aaron Logsdon to pay almost $1.2 million restitution and sentenced him to 29 years incarceration for swindling his friends in a land and cattle scheme, Attorney General Drew Edmondson said.

A jury Sept. 14 found Logsdon guilty on 16 counts including racketeering, fraudulent sale of a security, obtaining money by false pretenses and forgery.

Logsdon, 62, was sentenced today to 15 years incarceration for racketeering, and one year incarceration and a $4,000 fine per count on each of 11 counts of fraudulent sale of a security. He was also sentenced to one year incarceration and a $3,000 fine per count on two counts of obtaining money by false pretenses and six months incarceration on two counts of forgery in the second degree. The sentences will run consecutively as recommended by the jury.

Logdson was also ordered to pay $1,194,238.48 in restitution to his victims.

“We accused Logsdon in July 2005 of a scheme to sell cattle, land and interests in his travel agency as investment opportunities,” Edmondson said. “The problem was that he never owned the cattle, he was not the sole owner of the land and a bank held the travel agency’s note as collateral for a loan.”

Logsdon conducted business as Logsdon Investments, Logsdon Travel, Time Out Travel, Inc., Logsdon’s Embassy Travel, Logsdon-Griffith Travel and Logsdon Angus Ranch, Inc. The Oklahoma State Bureau of Investigation conducted the investigation and Edmondson’s office handled the prosecution.