Canopy Co-Founder Gets 13 Years For $93M Investment Scam

Law360, Chicago (February 15, 2012, 5:23 PM EST) -- A co-founder of defunct health care transaction software company Canopy Financial Inc. was sentenced Wednesday in Illinois to more than 13 years in prison for his role in a $93 million investment fraud, just weeks after his co-defendant received a 15-year term.

U.S. District Judge Ruben Castillo sentenced former Canopy Chief Technology Officer Anthony Banas, 34, to 160 months in prison and ordered him to pay roughly $93 million in restitution.

The money is to be paid jointly and severally with Banas' co-defendant and Canopy co-founder...
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