Conn. men sentenced in fraud against RI bank

NEW HAVEN, Conn. (AP) — Two former executives of a Connecticut-based automatic teller machine company have been sentenced to prison for a scheme to steal millions from a Rhode Island bank.

Fifty-six-year-old Joseph Sarlo of Trumbull, Conn., and Lexington, S.C., was sentenced Tuesday to 44 months. Forty-four-year-old John DeMilo of Branford was sentenced to 22 months. They had pleaded guilty to one count of conspiracy to commit bank fraud.

They and two co-defendants sentenced previously must pay restitution to Domestic Bank of Cranson, R.I., which federal prosecutors say lost $4.8 million over several years.

Prosecutors said Sarlo was CEO and DeMilo was general manager of Branford-based New England Cash Dispensing Systems Inc., which operated stand-alone ATMs. Prosecutors said the defendants ordered extra cash from Domestic Bank to supply some ATMs in the network that NECDS should have covered itself.