Westport man faces sentencing for bank fraud

HARTFORD, Conn. (AP) — A Westport man is facing sentencing for defrauding Citizens Bank out of nearly $7 million.

The U.S. Attorney's office says Daniel J. Lyons Jr. is scheduled to be sentenced Thursday in federal court in Hartford. He pleaded guilty to bank fraud.

Lyons was president and chief executive officer of an importing and exporting business known as Greenwich Trading Company.

Authorities say that in February 2007, Lyons falsified audit reports and other information when he applied to the bank for a $7 million commercial revolving line of credit.

In 2009, the company filed a voluntary Chapter 7 bankruptcy petition.

In court papers, his attorney described Lyons' conduct as an aberration motivated by his inability to accept the failure of his business and how that would affect his employees and customers.