Fla. Man Gets 5 Years For $5.2M Exim Bank Fraud

Law360, New York (July 18, 2011, 6:57 PM EDT) -- The owner of a Miami investment planning company was sentenced in Florida on Monday to 63 months in prison for acting as a middleman in a fake loan scheme that cost the Export-Import Bank of the U.S. about $5.2 million.

Carlos L. Morano, 61, a native of Argentina, and co-conspirators will have to repay the millions lost by the Exim Bank. Morano was also was ordered to pay $6.8 in forfeiture for helping 17 Miami exporters obtain insured short-term loans — nearly all of which later...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.