A man accused of defrauding the development agency of the African kingdom of Swaziland has been sentenced to five years in federal prison for conspiring to cheat two American banks.
US District Judge Avant Edenfield also ordered Erwin David Rabhan on Tuesday to pay restitution of $11,3-million.
Rabhan, of Swainsboro, pleaded guilty November 27 to conspiracy to defraud Enterprise National Bank of Palm Beach, Florida, and AmTrade International Bank of Atlanta.
He was indicted last year on 22 counts, including conspiracy, bank fraud and wire fraud. He was accused of inducing the Swazi agency Tibiyo Taka Ngwane to invest $6-million in a fictional equipment manufacturer, Polk Manley Machinery Inc., to build candy and baby food factories.
He used the money to fund letters of credit confirmed by AmTrade. Evidence also showed that Rabhan conspired to defraud Enterprise National Bank into making a $5-million loan to build a catfish processing plant in Wrightsville. – Sapa-AP