Former Campbell mayor sentenced to prison for securities fraud

George Krinos was sentenced to 57 months in prison and was ordered to make restitution of over $1.2 million

George Krinos was charged in a two-count criminal information with engaging in a securities fraud scheme and willfully failing to collect and pay taxes for his employees.

CLEVELAND, Ohio (WKBN) – The former mayor of Campbell was sentenced to almost five years in prison for securities fraud and failure to pay and collect taxes.

That’s after George Krinos plead guilty to stealing more than $1.2 million from investment clients.

That 57-month sentence was handed down Wednesday in a federal court in Cleveland.

The government said Krinos convinced clients to give him retirement savings, which he was then going to invest for them. But instead, he spent the money on himself, on bar tabs, restaurant bills and strip clubs.

He’ll be on parole for three years after he’s released from prison in Morgantown, West Virginia. He also owes money to the I.R.S.

Krinos abruptly resigned as Campbell mayor in early 2011.


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