Ex-Lacombe Bank CEO Sentenced For Fraud

NEW ORLEANS (AP) — A former Lacombe bank executive has been sentenced to two years and nine months in federal prison after pleading guilty earlier this year to bank fraud and making false statements.

The Times-Picayune reports that 53-year-old Richard Blossman Jr., had admitted to setting up a bogus company to buy a repossessed yacht. He also admitted issuing bonuses to bank directors that later were converted to political campaign contributions.

He was sentenced on Thursday by U.S. District Judge Nannette Jolivette Brown. He is the former chief executive of family-owned Central Progressivve Bank.

The illegal campaign contributions were funneled to the campaign that led to Bobby Jindal's election as governor. Jindal has said he knew nothing about the contributions and Blossman's attorney said the campaign will return the funds.