Jacksonville-based Coastal Bank and Trust founding president has been sentenced to four years in prison for bank fraud.
Robert Levie Norris is behind bars after pleading guilt to charges of conspiracy to commit bank fraud and obstruction of a federal bank examination on May 17, 2017, according to a press release from the office of the U.S. Attorney for the Eastern District of North Carolina, Robert J. Higdon Jr.
Norris, 50, and residing in New Bern during the court proceedings, was sentenced by U.S. District Judge Louise W. Flanagan to four years in prison. Flanagan ordered Norris to serve three years of supervised release upon completion of his prison sentence.
The court also ordered Norris to pay nearly $2.4 million in restitution.
Read the original article here: jdnews.com
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