Ex-auto dealer to be sentenced for defrauding bank
Published: March 17,2011
OXFORD — Former Oxford automobile dealer Dino Jerry Grisanti will be sentenced May 26 on federal charges of defrauding Regions Bank.
Grisanti pleaded guilty last October. The Northeast Mississippi Daily Journal reports that he faces up to 30 years in prison and a $1 million fine.
Prosecutors say Grisanti admitted to a $2-million scheme to defraud Regions Bank, which gave his Grisanti Rebel Motors a line of credit to buy vehicles for retail sale.
Grisanti remains free on a personal recognizance bond.
Prosecutors say Grisanti concealed the sale of 66 vehicles from Regions and lied to the bank about how many actually were sold. They say the scheme ran between Oct. 26 and Nov. 6, 2007.
Source: The Associated Press
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal