SIMI VALLEY : Man Sentenced in Bank Fraud
A Las Vegas man who used a boat he didn’t own as collateral for a $137,000 loan from Simi Valley Bank has been sentenced to eight months in federal prison, officials said.
Donald F. Ford, 56, was sentenced by U. S. District Judge Spencer Letts in Los Angeles. Ford, who will be on probation for three years after his release from prison, appeared before Letts in October and pleaded guilty to one count of bank fraud, said Gary Auer, supervisor of the Ventura County office of the FBI.
Letts also ordered Ford to pay $133,417.51 in restitution to the bank.
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