3-year sentence in Roseburg check kiting case

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EUGENE, Ore. (AP) -- Roseburg businessman Dave Gilbert was sentenced Wednesday to three years in prison for a check-kiting scheme that defrauded banks.

The Roseburg News Review reports (http://is.gd/HRr1wU ) the federal judge in Eugene also ordered the 64-year-old to pay $1.9 million in restitution.

Gilbert pleaded guilty in November to bank fraud charges.

The scheme involved transferring money between two or more banks in order to obtain credit from a bank during the time it takes checks to clear. Prosecutors said it gave him a series of unauthorized, unsecured and interest-free loans.

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Information from: The News-Review, http://www.nrtoday.com