CHICAGO (AP) – Two former executives of health care company Canopy Financial Inc. who pleaded guilty to defrauding investors out of $75 million have been sentenced to prison.
Former President and CEO Jeremy Blackburn was sentenced Wednesday to 15 years in prison. Former Chief Technology Officer Anthony Banas received a 13-year sentence. Both men pleaded guilty in 2010 to one wire fraud count.
According to court documents, Blackburn and Banas used false information about Canopy’s financial condition to obtain about $75 million from several investors in 2009. They also allegedly pocketed about $18 million from accounts meant to pay people’s medical bills.
The then-Chicago-based company declared bankruptcy in 2009.
The 34-year-old Banas is to report to prison April 18. The 38-year-old Blackburn begins serving his sentence March 20.
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