The investment banker who defrauded former basketball superstar Scottie Pippen has been sentenced to three years in prison. The sanction was brought down by the court on Tuesday.
Robert Lunn has been sentenced to three years in prison for multiple counts for fraud schemes. The scheme included a $1.4 million loan using Pippen's signature in order to pay off his personal debts, as per Chicago Tribune
According to ESPN, U.S District Judge Charles Norgle gave the accused less than the nine-year term that the prosecutors are hoping for. Norgle said in his ruling that Lunn had lied by using Pippen's signature and was on his way to getting another loan from a different victim. He added that Lunn has been using a sophisticated way of keeping his fraudulent acts active.
Aside from his time in prison, Norgle ordered Lunn to give up $2.7 million and pay an additional $1.5 million in damages, which include $400,000 to be paid directly to Pippen. As reported by the Chicago Sun-Times, Lunn, 66, was convicted on five counts of bank fraud in his trial in 2014. This is not the first time that the accused paid the former NBA star, in 2004 Pippen won a. $11.8 million civil judgment case against Lunn.
In 2014's hearing, Pippen testified in court but was not able to attend at the latest hearing when the sentence was brought down. Instead, Pippen's wife Larsa sent a letter saying that they want a maximum penalty for the accused due to the fact that the incident tainted her husband's legacy in the game of basketball.
But John Beal, Lunn's attorney, said that Pippen had already recovered much of his money after a bankruptcy court sold the South Side shopping plaza to another developer, where his client and Pippen invested most of their money. He added that these appeals are all crocodile tears. Beal is also planning to make an appeal before the court.
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