Francis Harold Monaghan, 57, faced Bendigo County Court on Wednesday. He pleaded guilty to seven counts of handling stolen farming goods valued at $111,600.

The charges carried a maximum penalty of 15 years jail.

The court heard that in February 2012, police executed search warrants on five dairy properties operated by Mr Monaghan where they found a number of goods later found to have been stolen from properties around the region.

They included a $70,000 John Deere tractor, $15,000 mower, $10,000 hay baler, $15000 shaft, $1500 hay baler monitor, $10,000 hay rake and $3600 Honda quad bike.

The court heard at a second interview with police at Echuca police station on May 1, 2012, Monaghan made full admissions to handling stolen goods.

Prosecutor Penny Marcou told the court there were no suggestions Monaghan had stolen the goods himself, but acquired them through a sequence of deals with third parties.

She said the Crown would not seek a jail sentence for Monaghan, who was supported in court by 12 family members and friends.

Reports from five doctors and eight personal references were submitted to court in support of Monaghan.

Defence barrister Patrick Casey said his client – as a farmer – had battled through more than 10 years of drought to the point he was now bankrupt and had no assets.

He told the court Monaghan had shown great remorse for his actions in handling goods stolen from other farmers and had faced up to his offending by remaining in the community where it took place.

“What has become apparent is he has broken a very strong code – he has paid and he will continue to pay for that breach,” Mr Casey said.

“His reputation has been totally ruined.

“He has been confronted by a number of people in social situations.

“He has had his fences cut, shots have been over his property, property has been stolen – he realises he is a target.”

The court heard Monaghan suffered from a mix of health problems, including depression, high-blood pressure, heart and prostate ailments and was on medication for arthritis, gout and back injuries.

Mr Casey said it was hoped the depression might lift when court proceedings against him ended or he returned to work.

In sentencing Monaghan, Judge Graeme Hicks said he took into account the accused’s personal circumstances.

“You have lost everything,” he said.

"As to your prospects of rehabilitation, in my opinion they are very good.

“You will have this hanging over your head for the next two years.”