Carlos Serrano is lucky he is 64 years old: apparently due to his age and “character” – or lack thereof, U.S. District Court Judge Christina Snyder sentenced him to serve 18 months in a community correctional facility after he was convicted in a scheme that defrauded two financial institutions of $1.3 million. A community correctional facility is similar to a halfway house.
For his role in the fraud, for which eight other people were convicted, Serrano must pay more more than $940,000 in restitution. He was convicted in September 2008 of bank fraud and conspiracy to commit bank fraud after lying to the First International Bank of Connecticut in order to receive monies for goods he claimed to have purchased and then shipped to the Philippines, but did not.
Note: this article is also published on Examiner.com.