Two Men Sentenced in ‘Prime Bank’ Scam
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Two Southern California men were sentenced for their roles in a so-called prime bank scam that bilked about 30 victims out of $3.45 million.
John M. Thomas of Laguna Hills, who pleaded guilty to wire fraud and money laundering, was sentenced to 46 months in federal prison.
Cenobio Herrera Lanz of Downey, who pleaded guilty to wire fraud, was sentenced to 33 months. They each were ordered to pay $1.6 million in restitution.
Two other participants in Circle Foundation Investment Trust, a company that promised 2,000% returns to individuals investing in complicated international securities, previously were sentenced to prison terms and ordered to pay restitution.
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