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DVI Exec Sentenced For Financing Fraud

Law360 (March 29, 2007, 12:00 AM EDT) -- A former executive of a bankrupt medical equipment financing company was sentenced to two and a half years in prison after pleading guilty to a securities violation in a $51 million fraud scheme against Fleet Bank.

Steven Garfinkel, the former chief financial officer of DVI Inc., admitted to double-listing about $51 million in DVI’s assets to Fleet so that the bank would continue lending money to his distressed company between 1999 and 2003.

Garfinkel’s sentence is scheduled to begin April 30. He was also ordered to...
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