The owner of a Pennsylvania trucking firm has been sentenced for defrauding a bank.
According to The Associated Press, John F. Brandt, 62, of West View, PA, was sentenced Friday to one year in federal prison and ordered to pay $604,041 for bank fraud.
He also was sentenced to five years’ probation.
Brandt owns Brandt Trucking Co. Inc., of Ambridge, PA, The AP reported.
Brandt pleaded guilty in November to submitting to the bank accounts receivable documents that he had altered, according to court documents.
The bank had agreed to buy the accounts receivables at a discount so Brandt could get immediate cash.