Former Marina Operator Sentenced To 50 Months In Prison
A Kentucky man and former operator of Grider Hill Marina on Lake Cumberland was sentenced today to 50 months in federal prison for bank fraud.
John Guzman, 70 of Shelby County was sentenced by U.S. District judge today to not only prison time, but also five years of supervised release. According to court documents Guzman was convicted last year on nine counts of defrauding American Bank for more than $4 million in 2006 and 2007. According to evidence, Guzman had submitted false paperwork to get loans, faking appraisal documents and listing collateral that didn’t exist then used the money from fraudulent bank loans to purchase the marina on Lake Cumberland.
U.S. District Judge Joseph M. Hood allowed Guzman to remain free on bond until the U.S. Bureau of Prisons sets a date for him to report to prison. Under federal law, Guzman must serve at least 85 percent of his prison sentence. There may be a separate hearing for the issue of restitution.