Young gets 46 months in fraud case

Published 12:00 am Friday, June 10, 2016

Federal District Court Judge Paul S. Diamond on Thursday sentenced Andalusia resident Harold Young to 46 months in prison.

Young, one of three local defendants in the multi-million dollar fraud case and former president of South Central Agency in Andalusia, pleaded guilty in April 2012 to charges involved with the theft of $53 million from Equipment Finance Inc (EFI). His sentencing was delayed numerous times.

Patricia Hartman, public information officer with the United States Attorney’s Office Eastern District of Pennsylvania, said Young was immediately remanded into custody. He also was ordered to pay restitution of $1,049,452, and was sentenced to five years of supervised release.

He is one of eight defendants in the case that resulted in $53 million in losses to EFI, a logging industry lender that provided funding for the purchase of forestry and land-clearing equipment. He was the last to be sentenced.

Also included were locals Wiley Spann and John S. Tomberlin.

Tomberlin was sentenced to 45 months in prison and ordered to pay $1.87 million in restitution. He has completed his sentence.

Spann was sentenced to nine years in prison and ordered to pay $7.6 million in restitution for his part in the scheme.

Federal Bureau of Prisons records show he is being held in the minimum security camp at Maxwell Air Force Base, and is due to be released on July 16, 2020.