Bankrupt Banker: Utah County Jail

Richard Culbertson was sentenced to four concurrent terms in prison

Richard Culbertson was sentenced to four concurrent terms in prison on three counts of communications fraud and one count of engaging in a pattern of criminal activity. Culbertson pleaded guilty in June to the second-degree felonies. Richard Culbertson's wife, Kathleen, was sentenced to 60 days in jail and two years probation for her role. In return for her guilty plea, her charges were reduced to class A misdemeanors. Judge James A. Taylor ordered Richard Culbertson transported to the prison immediately to begin serving his sentence. Kathleen Culbertson has until Monday afternoon to report to the Utah County Jail. The pair also were ordered to pay $1.114 million in restitution, but Taylor said the proceeds from selling the houses involved in the scheme can be credited toward the restitution. The Culbertsons used their daughter's and son-in-law's names to buy a house, inflated income on a loan application and pocketed a $59,324 home loan that was supposed to pay for landscaping and remodeling. Richard Culbertson ran for mayor last year, and was defeated by Heather Jackson 1,650 to 549.

Richard Culbertson was sentenced to four concurrent terms in prison

Richard Culbertson was sentenced to four concurrent terms in prison on three counts of communications fraud and one count of engaging in a p...