Failed bank CEO gets 14 months for trying to scam $13M in TARP funds

The former president and chief executive officer of a failed bank will spend 14 months in prison after being convicted of faking millions of dollars in investments in the bank as part of a scheme to defraud the federal government of more than $13 million from the Troubled Asset Relief Program.

Earlier this year, a federal jury found Brian Hartline, the former president and CEO ofNOVA Bank, guilty of criminally defrauding the government.

On Tuesday, Hartline received his sentence – 14 months.

According to the office of the Special Inspector General of the Troubled Asset Relief Program, Hartline and others founded NOVA Bank in 2002, but by 2008, the bank “faced the risk of failure” due to bad loans and investments.

Read on.

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