Fla. Mortgage Broker Sentenced To 15 Years In Prison

Law360, New York (October 14, 2010, 2:09 PM ET) -- A Florida mortgage broker has been sentenced to more than 15 years in prison and ordered to pay $16.2 million in restitution for a Ponzi-like scheme in which he sold investments in the same mortgage to more than one investor.

Judge Virginia M. Hernandez Covington of the U.S. District Court for the Middle District of Florida on Wednesday sentenced Peter Bakowski to 15 years and eight months in prison and 60 months of supervised release.

Bakowski, 59, of Tampa, Fla., pled guilty to one count of...
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