From the Tampa Bay Times:
Florida developer Domenic Rabuffo was sentenced Tuesday to more than 27 years in federal prison for a North Carolina mortgage fraud scheme that bilked four major banks out of more than $50 million in loans made to dozens of Floridians who posed as straw buyers.
The Miami man, now 78, is likely to spend the rest of his life behind bars.
Since he was jailed without bail after his indictment in January, Rabuffo has been hospitalized several times and had carotid surgery to restore the flow of blood to his brain. His lawyers say he also has diabetes and a degenerative spinal disc problem that has in a wheelchair.
U.S. District Judge K. Michael Moore noted that the mortgage fraud scheme contributed to the country’s economic decline and indicated his sentence was partially designed to deter others.
Rabuffo is appealing the jury verdict that found him and several others guilty of conspiracy to commit mortgage fraud and multiple counts of bank fraud.
Rabuffo’s lawyer at sentencing Tuesday in Miami said a 60 month sentence would be appropriate.
Assistant U.S. Attorney Dwayne Williams asked for the 327 month sentence, slightly more than 27 years and at the top of the sentencing guidelines for a defendant with his record.
UPDATE -- Meantime, Scott Rothstein's ex-partner Stuart Rosenfeldt was sentenced this morning by Judge Cooke to a 33-month prison term on conspiracy conviction.