Ex-bank president gets 2 years in prison in bailout fraud

Staff Writer
Columbus CEO

NEW YORK (AP) — A one-time small community bank president who became the first person convicted of trying to rip off the federal bailout program has been sentenced in New York to 2 1/2 years in prison.

A federal judge sentenced Charles Antonucci (an-tuh-NOO'-chee) on Thursday.

The judge says the 64-year-old Fishkill resident's cooperation in the case was insufficient to avoid spending time in prison. She calls his crimes "enormous" and adds the only motivation seemed to be greed.

The government says he tried to secure more than $11 million in taxpayer rescue funds near the end of a three-year crime spree that began in 2006.

Antonucci pleaded guilty and has apologized for his actions.

He was ordered to pay $54 million in restitution. He resigned in 2009 as president of The Park Avenue Bank in Manhattan.