Former Restaurateur Sentenced for Fraud
A former Torrance restaurateur was convicted of bank fraud Thursday, almost seven years after he swindled $247,700 from a bank and fled to Australia.
British-born James McGrail, 52, a legal resident of the United States, was convicted of two counts of interstate transportation of forged securities and three counts of bank larceny.
Assistant U.S. Atty. Stephen Mansfield said McGrail faces up to 50 years in prison and a $35,000 fine when he is sentenced June 12 by U.S. District Judge Stephen Wilson.
McGrail, who operated the now-defunct Bounty Restaurant in Torrance, was located in Australia by the FBI soon after he bilked $247,700 from Security Pacific National Bank in July and August, 1982, Mansfield said. It was not until October, 1988, however that extradition papers were filed with Australian authorities.
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