Ex-Omni Bank Official Gets Five-Year Prison Term for Fraud

[Turbineguy]

A former Omni National Bank executive was sentenced to five years in prison over fraud charges tied to faltering mortgage loans that led to the bank’s 2009 collapse.

“You managed to participate in the crime of the century,” the judge told Levine in court. “Globally, the whole financial industry is on its heels.”

But wait! There's more.

An Omni customer, Delroy Oliver Davy, separately today was sentenced to 14 years in prison for bank fraud and conspiring to commit bank, mail and wire fraud. According to prosecutors, Davy, 38, formed corporations to buy property from Omni and then sold them to investors at inflated prices.

http://www.bloomberg.com/news/2011-04-22/ex-omni-bank-official-levine-gets-five-year-prison-term-for-bank-fraud.html

[dixiegrrrrl]

1. What do you call a 1,000 banksters falling into the Gulf of Mexico?

A:
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A good start.

[3waygeek]

2. Hasn't the Gulf had enough crap dumped into it? n/t

[xchrom]

3. where's the money they stole?

a stint in jail and out rich.