Missouri Businessman Sentenced for Bank Fraud
ST. LOUIS (AP) - A St. Louis businessman must spend two years and three months in federal prison and pay more than $877,000 in restitution for defrauding a bank.
Forty-six-year-old Richard Kalina was sentenced Tuesday in U.S. District Court in St. Louis, where he pleaded guilty in March to bank fraud.
Federal prosecutors said Kalina promised Southern Commercial Bank to pay $94,000 in real-estate taxes as a condition for closing a $2.46 million refinancing on two commercial properties.
But Kalina paid the outstanding taxes using checks drawn on accounts he knew had insufficient funds.