$62M Bank Fraudster Gets 12 Years In Prison

Law360, New York (September 22, 2011, 7:19 PM EDT) -- An Ohio federal judge on Thursday sentenced a Cincinnati man who pled guilty to defrauding 18 banks of $62 million in loans to 12 years in prison and ordered him to repay the banks nearly $50 million, prosecutors said.

Richard T. Brunsman Jr., a business owner who pled guilty in January to one count of bank fraud, admitted he had tricked Bank of America NA, JPMorgan Chase Bank NA and several other national institutions into supplying him with loans he was not qualified for from 2004...
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