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Marlborough biz owner, CFO plead guilty to $6M bank fraud

The former owner and his CFO of a Marlborough-based frozen seafood distribution company have pleaded guilty to scheming to commit bank fraud.
James Faro, 61, of Dover, and John Crowley, 62, of Boca Raton, Fla., owner and CFO, respectively, allegedly overstated the value of their company, Sea Star Seafood Corp., in order to increase the level of assets against which the company could borrow from the bank.
Accordin ...

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