OXFORD — A former Oxford auto dealer will spend one day in jail and pay $7,500 fine for a guilty plea to a $2 million bank fraud scheme.
The Northeast Mississippi Daily Journal reports Dino Jerry Grisanti was sentenced Thursday by Chief U.S. District Judge Michael P. Mills.
Last October, Grisanti pleaded guilty to a one-count federal charge that he concealed the sale of about 66 vehicles and failed to pay Regions Bank $2 million as part of a floor plan financing agreement.
When Grisanti pleaded guilty to the charge, his attorney, Anthony Farese, told Mills that his client had repaid Regions.
The alleged fraud occurred from Jan. 1, 2006, to about Nov. 1, 2007, while Grisanti owned Grisanti Rebel Motors in Oxford.
He’s been free on bond since his arrest.