4 Defendants Get Jail Time In $8M OPIC Fraud Case

Law360, New York (June 16, 2011, 7:11 PM EDT) -- A federal judge in California issued prison terms Thursday to four defendants who admitted they fraudulently obtained $8 million from the federal Overseas Private Investment Corp. for a bakery in Estonia, overriding the defense's calls for lesser sentences.

U.S. District Judge Marilyn H. Patel sentenced Sergei Shkurkin and Martin William Washburn to one year in prison and three years of supervised release, Tapani Koivunen to two years in prison and three years of supervised release, and Donald Daniels to two years in prison.

A fifth defendant,...
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