LOS ANGELES — A Corona del Mar businessman was sentenced to two years in federal prison for his role in a bank fraud that cost two banks about $3 million in loan losses.
At a hearing Friday, U.S. District Judge Alicemarie H. Stotler also ordered John Marsella, 45, to repay $15,000 to the banks and serve five years on probation.
Mitsui Manufacturers Bank of Los Angeles and Unified Savings Bank in Northridge loaned the money to Marsella's business associate to finance a fleet of stretch limousines. But a federal jury found Marsella and Victor Bagha guilty of pocketing most of the money. Assistant U.S. Atty. Anita Dymant said that Marsella received about $109,000 for his role in the scheme.
In August, Stotler sentenced Bagha to 18 years in prison.
Bagha operated Nationwide Coach Manufacturing Co. Marsella, who was sentenced to the two years in prison based on a conspiracy count, helped Bagha fill out loan applications to obtain the funds.
Marsella's attorney told Stotler that Marsella would appeal.