Banks sentenced to four years
Shag Harbour man defrauded CIBC of $8 million
Terry Banks of Shag Harbour has been sentenced to four years in prison for defrauding the Barrington branch of the Canadian Imperial Bank of Commerce out of close to $8 million.
The former owner of the lobster brokerage company, E.S.D. Fisheries, which is no longer operating, submitted 85 false invoices to the bank over a period of 13 months starting in 2000. The court has ordered Banks to pay back $2.5 million when he is released from prison.
by Carla Allen/The Vanguard 
