UPDATE: Grisanti pleads guilty to bank fraud

By Patsy R. Brumfield/NEMS Daily Journal

OXFORD – Dino Jerry Grisanti, most known in the region for his failed car dealerships, pleaded guilty today to bank fraud.

He faces up to 30 years in prison and a $1 million fine.

His sentence date will be set after an investigation and report about him by the U.S. Probation Service.

Grisanti stood before Chief U.S. District Judge Michael P. Mills and admitted to the counts of bank fraud in a scheme against Regions Bank.

An information is like an indictment but doesn’t come from a grand jury.

Grisanti reportedly left Oxford a few years ago and went back to family restaurant business in Memphis.

More details later on NEMS360.com or Friday’s Daily Journal.