SAN DIEGO (CN) - An Arizona banker was sentenced Tuesday to three years in federal prison as what the judge called "the kingpin in this whole nasty affair," a multimillion-dollar bribery scandal in secondary mortgages.
Robert Moreno, a 42-year-old GMAC banker from Tempe, took more than $1 million in bribes to rig bids for mortgages on the secondary market. U.S. District Judge Roger Benitez also ordered him to pay $1,143,560 in restitution to GMAC and $140,941 to the IRS.
Numerous cohorts already have been sentenced to prison.
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