Former bank vice president gets 17 years in prison

[unhappycamper]

http://hamptonroads.com/2013/09/former-bank-vice-president-gets-17-years-prison



Stephen Fields leaves the United States District Court in Norfolk on July 12, 2012.

Former bank vice president gets 17 years in prison
By Tim McGlone
The Virginian-Pilot
© September 17, 2013

NORFOLK

Former Bank of the Commonwealth Executive Vice President Stephen Fields was sentenced Monday to 17 years in federal prison for his role in a conspiracy that led to the bank's collapse.

Fields, 49, was led away in handcuffs after the judge handed down the sentence as family members and friends stood by watching, many crying. Before leaving the courtroom, he turned and smiled to the crowd.

U.S. District Judge Raymond A. Jackson did not impose a fine, which could have reached $4 billion, but ordered Fields to pay $331 million in restitution, which nears the total loss for the Federal Deposit Insurance Corp.

The judge also ordered Fields to forfeit $61.6 million, which is the total of the bad loans tied to him. He also put Fields on five years of probation following prison and ordered him not to work in the banking industry during that time.

[KansDem]

1. Fantastic!

Now go get the rest of them!

[Hotler]

2. I wish it was Jamie Dimon and some of the .....

CEO's on Wall St.

[jollyreaper2112]

3. Wait, a banker doing time?

What did he do wrong? (to actually suffer consequences.)

[rurallib]

7. no doubt he screwed some rich people

had it only been the poor and middle class he'd still be free most likely.

[Baitball Blogger]

8. He certainly pissed off the wrong people.

[bullwinkle428]

9. Exactly - which helps to explain why Bernie Madoff went to

the big house so quickly as well. A number of rich celebrities got fucked over by his shenanigans.

[snappyturtle]

4. Is there anywhere deposits are safe? Sounds like Fields saw

what the big banks were doing and decided to do the same.
Now if only the master criminals would be prosecuted.

[90-percent]

5. I'll take it

poor lil guy looked at his too big to jail big brothers and thought he was one of them. Hell of a prison price to pay for a bad judgement! Going after more of the little ones could eventually lead to going after the fat cats. Any bankster prosecution helps.

-90% Jimmy

[Spitfire of ATJ]

14. Makes you wonder what kind of numbers you would be looking at...

With the public and private bailout they got the market value of every home in America.

Imagine if that money instead went to zero out everyone's mortgage. The amount of capital that would free up. The ultimate stimulus.

[FreakinDJ]

6. Its a good start

[Cryptoad]

10. Scape Goat?

How about some of the Big Dogs!

[Schema Thing]

12. lol, "scape goat"?

grow some perspective, man.

[L0oniX]

11. Unbelievabel! Maybe he will do a Jeffrey Skilling dancing act.

[MynameisBlarney]

13. I hope this is the first of many.

As far as I'm concerned, we should put them all on trial.

[Demeter]

15. One down....

Thousands (or at least, 100's) to go.