Advertisement

Experts predict long sentence for investor

SAN FRANCISCO, Dec. 8 (UPI) -- Bankrupt investor William "Boots" Del Biaggio could spend years in prison if prosecutors in California successfully link him to a bank scam, experts say.

Experts said if the San Francisco U.S. attorney's office is able to earn a conviction in Del Biaggio's securities fraud case, the disgraced investor could potentially face up to 25 years in federal prison, the San Jose (Calif.) Mercury-News said Monday.

Advertisement

The 25-year prison sentence is the maximum allowable for a single securities fraud charge yet experts maintain Del Biaggio will likely avoid such a lengthy term.

Former U.S. attorney Charles Stevens said the fact the charges against Del Biaggio involve $48 million in loans and nearly $55 million in loan guarantees does not bode well for the investor.

"In cases involving that amount of money, it could be over 10 years," Stevens said, referring to the investor's possible sentence if convicted.

Experts also told the Mercury-News Del Biaggio, who is accused of using his investors' funds for personal purposes, could face additional charges in an expected indictment against him.

Latest Headlines