desktop...

Overcast
32°FOvercastFull Forecast

Rockford judge convicts banker of fraud

Published: Monday, Jan. 20, 2014 2:00 p.m. CST

ROCKFORD (AP) — A Rockford federal judge has found a one-time bank CEO guilty of 20 fraud counts.

Anthony D'Agostino is former owner, CEO and president of Commercial Mortgage and Finance Co. U.S. District Judge Frederick Kapala issued a written decision Friday in the case. The judge presided over the 79-year-old's bench trial in September.

The Rockford Register Star reports (http://bit.ly/1becPde) that the judge wrote in his ruling that D'Agostino used the company's good reputation to defraud investors of nearly $20 million. Prosecutors accused D'Agostino of lying about the health of the company in order to get new investors.

But D'Agostino's attorney, Scott Lassar, has said the firm went under because of a "run on the bank" during the Great Recession.

A sentencing date for D'Agostino has not been set.

___

Information from: Rockford Register Star, http://www.rrstar.com

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More News

 

National video



Reader Poll

When was the last time you visited someone in a nursing home?
Within the past week
Within the past month
Within the past year
Longer ago than a year
Never