Former Sea Star Seafood Owner James R. Faro Sentenced for Bank Fraud
SEAFOODNEWS.COM [SeafoodNews] - September 19, 2018
James R. Faro, the former owner and president of Sea Star Seafood Corporation, was sentenced in a federal court in Worcester, Massachusetts, on Monday for bank fraud. Faro, 61, had conspired with former chief financial officer John J. Crowley, 62, to fraudulently increase the levels of assets against which the company could borrow from the bank between 2010 and 2012.
According to the Department of Justice, Sea Star maintained an asset-backed loan agreement from October 2010 until August 2012 ...
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