Bank Execs and Borrower Sentenced for Loan Fraud
Written by Administrator on October 27th, 2011Thomas Hebble was sentenced to two and one half years in federal prison, Angel Guerzon received two years in federal prison, and Francesco Mileto was sentenced to five and one half years in federal prison. The defendants were sentenced for their participation in a conspiracy to create the illusion that non-performing loans were performing, among other things.
October 27th, 2011 at 11:47 am
At the risk of sounding the obvious, where are the prison sentences for the TBTF bank executives who are doing the same thing and worse? Actually, TBTF is a misnomer: They have already failed. They just need a little more time to hide their crime before anyone publicly admits that they are insolvent.
Sending the small-time crooks to prison is just window dressing to try to convince the “little people” that some are paying for the fraud.