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San Diego restaurateur Joseph Matranga and co-defendant Michael Polizzi were sentenced to prison Monday for their convictions on multiple counts of loan sharking and racketeering.
Matranga, 63, received a five-year sentence and five years’ probation from U.S District Judge William B. Enright. Polizzi, a Detroit produce merchant, was sentenced to two years and given five years’ probation. In addition to the prison sentences, Matranga was fined $50,000 and Polizzi $10,000.
The two were convicted in March of 16 counts of loan sharking and racketeering stemming from loans made to convicted swindler Harry Hall. Hall was the government’s star witness at the trial, testifying that he borrowed $300,000 from the men at an interest rate of 10% per month. Assistant U.S. Atty. Charles Gorder told the jury that the security on the loan was “Harry Hall’s body.”
Enright allowed both men to remain free on bail pending appeal of their convictions.
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