The owner of the Gallatin Grain Company has pleaded guilty to mail fraud charges stemming from a scheme to steal over three million dollars from Missouri farmers.

Daniel Froman admitted that he defrauded 100 farmers whose grain was stored at his business by selling their grain in order to pay his debts.

Under federal statutes, Froman is subject to a sentence of up to 20 years in federal prison without parole, plus a fine up to $250,000 and an order of restitution. A sentencing hearing will be scheduled after the completion of a pre-sentence investigation by the United States Probation Office.

The Missouri Department of Agriculture has already collected $400,000 in assets from Froman, and is distributing that to the victims.