Former Broker Gets 18 Months For Sureties Fraud

Law360, New York (October 7, 2010, 5:24 PM EDT) -- A federal judge has sentenced a former California sureties broker to 18 months in prison for bilking a New Jersey company out of roughly $800,000, according to the U.S. attorney's office.

Judge Mary L. Cooper of the U.S. District Court for the District of New Jersey on Wednesday sentenced Robert S. Michaels to 1 1/2 years in prison and ordered him to pay $195,000 in restitution, plus interest, prosecutors said.

He will also serve three years of supervised release, they said.

Michaels, 64, pled guilty in...
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