October 8th, 2010
06:29 PM ET
9 years ago
First TARP scammer convicted
New York (CNNMoney.com) - Government prosecutors got their first conviction of a person accused of defrauding the Troubled Asset Relief Fund Friday.
Charles Antonucci, the former president of the Park Avenue Bank, pleaded guilty in federal court to defrauding the TARP fund, securities fraud, self-dealing, bank bribery and the embezzlement of bank funds.
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I don't mind if he serves a minimum of time in prison. What I want is the money back mostly. If he can cough up the money that was swindled, then I don't think he should more than a year or so in prison.