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Updated: Thursday, 24 Jan 2013, 6:08 PM EST
Published : Thursday, 24 Jan 2013, 6:08 PM EST

EAST AURORA, N.Y. (WIVB) - An East Aurora man will spend nearly three years behind bars and lose his home for tricking banks into loaning him large sums of money.

The U.S. Attorney's Office says John Sorrentino, 46, convinced five banks in Arizona and WNY to lend him large sums of money by lying about his salary, employer and address. Sorrentino then filtered the fraudulent loans into a down payment for his home in East Aurora and to buy a new truck. He also used a falsified loan application to obtain a mortgage and home equity line of credit.

Sorrentino was convicted of money laundering and sentenced to 31 months in jail on Thursday. His East Aurora home and truck, as well as the computers he used to arrange the scheme, have all been seized.

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