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BANKING

From Times Staff and Wire Reports

Blankenship Sentenced to Prison: Douglas P. Blankenship, a Capistrano Beach man accused of masterminding a $25-million fraud against a score of financial institutions and companies by posing as a wealthy real estate developer, was sentenced to nine years in prison. Blankenship and 13 others had pleaded guilty in federal court in Seattle to defrauding Puget Sound National Bank of $4.5 million and stealing millions of dollars more from other financial institutions, companies and private investors in 17 states. Characterizing Blankenship, 48, as “a danger to the public,” U.S. District Judge Robert J. Bryan sentenced him to the maximum term allowed under federal sentencing guidelines.


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