NHL owner who bamboozled banks gets eight years in prison
A federal judge has sentenced a Silicon Valley financier to more than eight years in prison for bilking banks and investors out of millions of dollars in an attempt to buy a pro hockey team and finance a lavish lifestyle.
A federal judge has sentenced a Silicon Valley financier to more than eight years in prison for bilking banks and investors out of millions of dollars in an attempt to buy a pro hockey team and finance a lavish lifestyle.
William “Boots” Del Biaggio III was sentenced Tuesday in San Francisco.
He pleaded guilty earlier this year to a felony charge of forging financial documents to obtain $110 million in loans from several banks and two NHL owners.
He used the money to buy an interest in the NHL’s Nashville Predators and to pay personal expenses that included $4 million in gambling debts.
The judge also ordered him to pay more than $67.4 million in restitution. His interest in the hockey team will be sold and the proceeds distributed to his victims.
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