Financier’s Conviction Reinstated: The Ohio Supreme Court...
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Financier’s Conviction Reinstated: The Ohio Supreme Court reinstated the conviction of former Cincinnati financier Marvin Warner in the 1985 Home State thrift scandal but trimmed almost in half the restitution he must make to the state. The conviction had been overturned in 1989. Warner was sentenced to 3 1/2 years in prison and ordered to pay $22 million in restitution and $250,000 in court costs. The $22 million was cut to $12.2 million by the Supreme Court. Also reinstated were the convictions of David Schiebel, former president of Warner’s Home State Savings Bank, on three counts of securities violations.
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