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Former BofA short-sales employee gets prison term for taking bribes
Former BofA short-sales employee gets prison term for taking bribes

A former Bank of America mortgage employee was sentenced to 30 months in prison for pocketing $1.2 million in payoffs to approve sales of distressed properties for far less than their actual value. Kevin Lauricella, 29, who had worked for BofA in Simi Valley, was arrested on an indictment unsealed last October. He pleaded guilty in January to accepting bribes and falsifying bank records and had been cooperating with investigators. He was sentenced Monday by U.S. District Judge Otis D. Wright II in Los Angeles. Wright also ordered Lauricella to repay Bank of America $5.7 million in losses and to forfeit a Thousand Oaks home acquired with spoils from the criminal scheme. Lauricella...

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