Criminal Justice
Lawyer sentenced to year in prison after conviction in $20M bank fraud trial
A New York compliance lawyer was sentenced Tuesday to 12 months and a day in prison for his role in a fraudulent scheme to steal $20 million from an Emigrant Bank unit. (Image from Shutterstock)
A New York compliance lawyer was sentenced Tuesday to 12 months and a day in prison for his role in a fraudulent scheme to steal $20 million from an Emigrant Bank unit.
Senior U.S. District Judge Lorna Schofield of the Southern District of New York also ordered lawyer John Arthur Hanratty to forfeit nearly $18 million for an alleged yearslong scheme of deception to keep his tax lien investment company, Ebury Street Capital, afloat, according to a story by Law360.
In August 2025, Hanratty was convicted by a jury of wire fraud, bank fraud and money laundering. Hanratty, the former chief compliance officer of broker-dealer OTA, allegedly convinced Emigrant Bank subsidiary Emigrant Business Credit Corp. to lend his business $20 million by falsely claiming to possess millions of dollars of tax lien collateral.
The sentencing hearing happened in federal court in Manhattan in New York City.
Write a letter to the editor, share a story tip or update, or report an error.
