Connecticut investment banker John A. Grambling Jr....
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Connecticut investment banker John A. Grambling Jr. was sentenced Monday to four years in federal prison for using phony International Business Machines Corp. stock as security in an attempt to get a $350,000 loan from a San Diego bank.
Grambling, 36, also faces sentencing in New York on his guilty plea to 32 charges of grand larceny, forgery and other charges. Those charges stemmed from a fraud scheme in which Grambling allegedly received $13.5 million from banks in New York, Colorado, Utah and Mississippi.
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