Jail Term Upheld For Swindler In $14M Wis. Bank Scam

Law360, New York (June 25, 2009, 12:00 AM EDT) -- A federal appeals court has upheld a 140-month prison sentence for a tow truck operator convicted of swindling millions in fake loans from the defunct First National Bank of Blanchardville, Wis., and conspiring with the bank's president to cover them up.

Wednesday's opinion, in the U.S. Court of Appeals for the Seventh Circuit, upheld both the conviction and sentence handed to Bryan Severson.

The case stems from a May 2003 audit of the bank by the U.S. Office of the Comptroller of Currency, which found violations...
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