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Home > Blogs > Butler County News and Issues > Archives > 2010 > June > 09 > Entry
Dynus’ Carter gets 15 years
A federal judge sentenced the CEO at the middle of the Dynus Corp. bank fraud case and political scandal to 15 years in prison today, June 9.
U.S. District Judge Sandra Beckwith called former Dynus owner Orlando Carter a “fundamentally dishonest person” motivated by greed.
“It is ironic that Mr. Carter argues that the political figures and financial institutins were victims of their own greed and corruption, as the same is true of him,” Beckwith said.
She said Dynus — which took out a multi-million dollar illicit loan in Butler County’s name with help from a county auditor and others — was a fraud from the start.
Carter himself pleaded for mercy, insisting he was in the dark on the deal while apologizing for the way things ended up. He thanked his family for support, apologized to the roughly 60 employees who lost their jobs and to those who invested in him.
“I’m remorseful for where I am today, however I must say that I maintain my innocence,” he said. “I look forward to the opportunity, at some point in the future I’m praying, to be able to get the whole story out.”
“Had I known what I know today, I probably would have dealth with some things a lot differently,” he said.
Carter was given a couple weeks to say his goodbyes and turn himself over to prison officials. His defense attorneys immediately filed a motion to let him out on bond while his appeal proceeds.
Beckwith also ordered Carter to pay part of roughly $4 million in restitution to Fifth Third Bank and more than $800,000 to the mortgage company that gave him a loan for his $1.2 million Maineville mansion — which a jury found he secured with false tax forms.
He was ordered to pay $1,100 in assessments to the court, but Beckwith waived any fine, saying it’s unlikely he’ll even be able to pay the restitution.
Beckwith said she was moved by the testimony of Ross Love, a prominent black Cincinnati businessman who invested in Dynus and guaranteed lines of credit, ultimately costing Love roughly $2.5 million.
“I have to characterize him as an individual who is frankly very self-centered,” Love said. “He cares about himself, and is willing to do things that hurt other people, and hurt them badly.”
In addition to costing him money, Love said Carter diminished Love’s abilitiy to invest in other local businesses, donate to charity. He said it impacted the trust financial institutions have in the African American business community.
Those pleading for mercy in the case included Carter’s fiancé, pastor, and other members of the religious community.
They said Carter showed “character” throughout the trial, and talked of his devotion to his family, including his two children.
“My plea to you and to the court today….is to have mercy upon Orlando Carter because there is a greater consequence, and that consesquence is on his children,” said the Rev. Eric White, Carter’s pastor.
Those watching included members of the Baptist Ministers Conference of Greater Cincinnati, which expressed concerns about the fairness of the trial, and an under-representation of African Americans on the jury.
“It seems like a lot of information was left out of the trial,” said Dock Foster Sr., president of the conference.
Permalink | Comments (2) | Post your comment | Categories: Dynus
Comments
By EthicsWatch
June 9, 2010 6:45 PM | Link to this
And yet almost every Butler County office is still filled by the GOP? We are blind and stupid.
By Just Ice
June 11, 2010 8:31 AM | Link to this
When will Judge Beckwith do her job and ensure justice is done in this case and finally sentence the person who really deserves to spend 15 years in prison? Why is that person allowed to simply walk??? I’m talking about the Dynus person who committed forgery, initially lied to the FBI, lied to the IRS. I don’t support Carter, but his choice for president of Dynus was his downfall. He actually chose someone more sneaky, self-centered and dishonest than himself.