The Hartford Business Journal reports that Richard Pinto, former Chairman of Oxford Collection Agency, has been sentenced to five years in federal prison and ordered to pay $12.3 million in restitution. As we mentioned in a blog post from last May, Pinto and his son pled guilty to a $10 million fraud scheme that involved diverting the money they collected. Pinto’s son, as well as three other former executives who pled guilty, are awaiting sentencing.

Like this post? Subscribe to my RSS feed and get loads more!