Ex-Synergy CEO gets five-and-a-quarter years in prison for massive fraud

March 10, 2016 11:46 PM

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NEW YORK A former chief executive of bankrupt food company Synergy Brands Inc was sentenced to 5-1/4 years in prison on Thursday for running a check fraud scheme through U.S. and Canadian banks that caused one institution to lose $26 million.

Mair Faibish, 55, was sentenced by U.S. District Judge Eric Vitaliano in Brooklyn, New York, after being found guilty in 2014 on charges including bank fraud and conspiracy to commit bank and securities fraud, federal prosecutors said.

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