Jack County jail records show Tony Eugene Lyon of Perrin was being held Wednesday on a theft of livestock charge, with bond at $1 million.
The Texas and Southwestern Cattle Raisers Association says a marketing agency received an order from a rancher to buy steers. Lyon was to supply the cattle. The victim paid the agency $798,000, with Lyon getting most of the money.
The rancher from Brule, Nebraska, traveled to Texas to see the steers, then decided they should be turned out on a wheat pasture until shipment.
Lyon later allegedly said he got rid of the herd to settle prior obligations.
No attorney was listed to speak for Lyon.