Ex-Orion Bank CEO Sentenced To 6 Years For Lending Fraud

Law360, Washington (June 13, 2012, 4:57 PM EDT) -- The former CEO of Florida's failed Orion Bank was sentenced to six years in prison Tuesday for his key involvement in a scheme to raise $15 million in capital for the bank via fraudulent stock purchases and bank records.

Jerry J. Williams faced a maximum 15-year sentence after he admitted he had arranged for $82 million in loans to companies controlled by purported real estate investor Francesco Mileto starting in May 2009, knowing Mileto planned to use $15 million of the funds to purchase stock in...
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