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.
Top Posts & Pages
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Analyst: KiOR Columbus plant may end up sold as scrap
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Ex-MDEQ leader Fisher joins Butler Snow
- Can Metrocenter rise from the ashes? Again
- Prescott leads field for Conerly Trophy as state's best football player
- Bryant wants free tuition for students with technical diploma
- Gulf oil rig explosion kills one worker, injures three
- Prison-contract task force working in wake of Epps' indictment