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Ex-Thrift Head Gets 3 1/2 Years

March 30, 1987|Associated Press

CINCINNATI — Marvin Warner, the former owner of Home State Savings Bank, was sentenced today to 3 1/2 years in prison and ordered to pay $22 million in restitution for his role in the collapse of the thrift that triggered Ohio's savings and loan crisis in 1985.

Warner, a millionaire and former ambassador to Switzerland in the Carter Administration, was ordered by Hamilton County Common Pleas Judge Richard Niehaus to be jailed immediately unless he could post a $22-million bond in cash and securities.

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