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Former debt agency exec pleads guilty to bribery
A Long Island man accused of sending illicit cash to bankers in cigar boxes pleaded guilty to conspiracy to commit bank bribery in U.S. District Court in Connecticut.
Patrick Pinto, 44, of Bohemia was arrested last December for his involvement in bribing bank executives and defrauding investors through debt collection firm Oxford Collection Agency. Pinto filed his guilty plea on Monday.
Court documents say that Pinto, who served as a vice president at Oxford, bribed bank officials to keep their business by sending them payments of $2,500 to $3,500 hidden in cigar boxes. Oxford maintained offices in New York, Pennsylvania and Florida and, according to Bloomberg data, the company's headquarters was in Melville.
Pinto could face up to 5 years in jail and a $250,000 fine; he is scheduled to be sentenced in September.
Pinto's father and brother, who were Oxford's chairman and chief executive respectively, have already pleaded guilty to wire fraud, and conspiracy to commit wire fraud, bank fraud and money laundering. Three other Oxford executives also put in guilty pleas to similar charges in December.
Pinto's father, Richard, was sentenced to five years in prison in January, but requested moving back his self-surrender date due to poor health and died in April, according to a spokesman for the U.S. Department of Justice. His brother, Peter, and the other executives are still awaiting sentencing.