News
ATM scam puts Mich. man behind bars for 21 years
July 25, 2007
The Grand Rapids (Mich.) Press: John Sims says bad business led to the downfall of his ATM leasing company, but Kent County Circuit Judge Mark Trusock exceeded sentencing guidelines and sent the once-prominent businessman to prison for up to 21 years. State sentencing guidelines call only for 10 to 28 months. Sims, 51, is headed to prison for "lying, cheating and stealing" from people he was supposed to be working with in a legitimate enterprise. In all, Sims was charged with a series of scams that cost his partners about $750,000. Sims was convicted in May of five felonies related to fraudulent ATM leases that allowed him to secure money from partners. Sims reportedly drew up documents that showed finalized deals to place ATMs in banks, convenience stores and other businesses around Michigan.
Leasing / RentalDistributors / ISO / IADRegulation / LegislationBanking Executive SummaryOtherNorth AmericaBank / Credit Union
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