Another Sentence Handed Down In Bayou Fiasco

Following closely on the heels of the 51-month sentence handed down to James Marquez (reported below), Daniel Marino, Bayou’s former CFO, was sentenced this week to 20 years in prison. Marino had entered a guilty plea to conspiracy and three counts of fraud in connection with a scheme that cost investors approximately $450 million.

U.S. District Judge Colleen McMahon had harsh words for Marino, calling him “as much a career criminal as any mobster or drug kingpin.” The judge reserved a decision on how much Marino will be required to pay in restitution, but indicated that the amount would exceed $200 million.

Bayou co-founder and CEO, Samuel Israel III, still awaits sentencing.

Read the full NYTimes.com story here.

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About Amir

I hate doctors!
This entry was posted in Bayou Management, Daniel Marino, Fraud, News. Bookmark the permalink.

One Response to Another Sentence Handed Down In Bayou Fiasco

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