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The United States Attorney, Christopher P. Canova, Northern District of Florida, announced that former Gulf Breeze attorney, Richard Michael Colbert, 56, of Pensacola Beach was sentenced to 40 months in prison and ordered to pay more than $3.7 million in restitution. The charges for which he was found guilty are conspiracy to commit bank and mail fraud, false statement to a federally insured financial institution, nine counts of money laundering and two counts of theft, embezzlement or misapplication by a person connected with a financial institution.
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