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R. Craig Adams (45, Tampa) was sentenced to three years in federal prison and ordered to pay $25,024,775.74 in restitution for his role in initiating and orchestrating the conspiracy. In the spring of 2008, when the fraudulent scheme began to collapse with the downturn in the real-estate market, Adams turned himself into law enforcement. Over the next four years, Adams cooperated extensively with the government in its efforts to target the most culpable individuals who caused the largest losses to the banks.
Nine other defendants were also sentenced this week for their roles in the scheme.
- Joseph Dirocco (43, Sarasota), 24 months in federal prison and $1,590,000 in restitution;
- Jeffrey Berghorn (48, Sarasota), 12 months and one day in federal prison and $2,495,653.74 in restitution;
- Thomas Brustad (43, Sarasota), 12 months and one day in federal prison and $3,005,500 in restitution;
- Jonathan Glucker (45, Sarasota), 12 months and one day in federal prison and $6,318,000 in restitution;
- Derek Luther (42, Sarasota), 12 months and one day in federal prison;
- Lisa Rotolo (49, Bradenton), 12 months and one day in federal prison, and $23,378,975.74 in restitution;
- Bonnie Katz (59, Wisconsin), three years’ probation, with six months home detention, and $15,638,975.74 in restitution;
- George Bobka, Sr. (76, Sarasota), time served and $4,534,150 in restitution;
- Heather Kabobel (40, Sarasota), time served and $1,925,000 in restitution.