February 8, 2011
The former owner of a Smithfield farm equipment company has been sentenced to nearly six years in prison for wire fraud and identity theft.
Linda T. Rowland was sentenced on Monday to 68 months in prison followed by three years of supervised release. Rowland had pleaded guilty in federal court to obtaining more than $1.7 million in loans in the names of friends and customers.
Prosecutors say the business she owned with her husband was failing at the time.
Prosecutors say as a result of Rowland's fraud, five financial services companies suffered about $1.5 million in losses. Rowland has paid back about $300,000. She has been ordered to pay back an additional $1.2 million.
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