Bribery businessmen jailed after misusing bank loan for private jet

Corporate Jet Investor Staff
By Corporate Jet Investor Staff April 5, 2013 15:31

HandcuffsTwo US businessmen have been sentenced to prison after a misused bank loan was used to charter a private jet that was part of $6.2 million bribery conspiracy.

William B. Hemm, a former banker for ANB Financial, and his client Christopher Lee Talley, were found guilty of conspiring to bribe a bank officer, after Hemm paid Spitfire Aviation $82,500 to charter a private jet to Las Vegas – where the bribe was paid – using a loan he had misapplied from Talley’s sports management business.

According to documents filed in the case, Talley had agreed to pay Hemm $60,000 in order to obtain a $6,200,000 loan for his business.

At a sentencing in Fayetteville, Arkansas on 15 February 2013, Hemm was given 24 months’ imprisonment, three years of supervised release and a $10,000 fine.

Talley received a more lenient sentence, with 14 months’ imprisonment, three years of supervised release and a $10,000 fine.
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Corporate Jet Investor Staff
By Corporate Jet Investor Staff April 5, 2013 15:31

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