Federal judge sentences two defendants to prison for bank fraud

Federal judge sentences two defendants to prison for bank fraud

Two men have been sentenced to more than two years in prison for bank fraud, the federal prosecutor’s office announced on Monday.

In a press release, it was indicated that Judge Silva Carreno Coll ordered a prison sentence of two years and nine months for Carmelo Santiago Santiago, while she handed down a sentence of two years and six months for Efrain Delgado Rodriguez.

Both will also have to serve five years of supervised release after completing their time behind bars.

Carreno Coll also decided that both parties must pay $526,797 to compensate for the loss alleged in the indictment, for which they pleaded guilty at the end of last year.

The federal prosecutor’s office explained that, according to court documents, from May 2017 to October 2019, Santiago Santiago and Delgado Rodriguez “conspired with each other to execute a bank fraud scheme to obtain money held by Company A, an insurance company located in San Juan, Puerto Rico.”

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