Police say Nederland man leased $16K machinery, use it at pawn shop and defaulted of loan
Published 12:22 am Sunday, July 23, 2023
A Nederland man that authorities say leased a $16,000 piece of machinery, pawned it, then defaulted on the loan was indicted this week on a charge of felony theft.
Cody James Patteson, 46, reportedly leased a Barrato stump grinder valued at approximately $16,098.32 from Jac Rentals Excavators LLC in Beaumont on Jan. 27.
He was due to return the property on or about Feb. 3.
Management of the company told police Patteson ceased communication when they tried to collect the item.
According to the probable cause affidavit, Patteson brought the stump grinder to Triangle Pawn & Jewelry near Feb. 3 for collateral for a $5,000 loan. He defaulted on the loan and the property was placed on the sales floor and sold by the pawn shop for $14,999.95.
The investigation showed Patteson was previously convicted two or more times for theft.
Patteson was arrested June 23 on the charge and bond set at $40,000. He bonded out the same day, according to information from the Jefferson County Sheriff’s office.
An indictment is not a final conviction of guilt; it is only a ruling by the grand jury that allows the district attorney’s office to proceed with a criminal case.