Prison cell. Source: Shutterstock.

The leader of a fraud conspiracy that led to nearly $500,000 in losses for sailors and members of the $159 billion Navy Federal Credit Union was sentenced to 11 years in federal prison.

U.S. District Judge Raymond A. Jackson in Newport News, Va., also ordered Tequan Smith on Wednesday to pay $480,358 in restitution to 43 petty officers, seamen and airmen. Prosecutors said there were likely many more sailors who were victimized by the fraud scheme.

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Peter Strozniak

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