Bingaman Sentenced to Four Months in Prison

Last week John T. Bingaman of Benton was finally sentenced, two years and four months after he pleaded guilty to two federal felony charges.

In pleading guilty to conspiracy to commit wire fraud and money laundering, Bingaman admitted his role as “straw purchaser” in a mortgage fraud.

The crimes date back to 2006-08, when Bingaman and a New Jersey man obtained mortgages for three New Jersey condominiums using fraudulent loan documents.

Bingaman, a former insurance agent, was sentenced to four months in federal prison to be followed by three years of supervised release. He was ordered to pay more than $670,000 in restitution.