Wednesday, September 10, 2014

Ex Isles Owner Spano Indicted On Theft/Forgery Charges

According to Newsday, former Islanders owner John Spano was indicted by an Ohio grand jury last month on one count of theft and 44 counts of forgery.

Court papers reveal that Spano stole between $7,500 and $150,000 from his employers in a scam that took place from June 2011-July 2013.  Spanos attorney Jay Milano told Newsday that his client played a, "minor role" in this scam and that the owner of the company was the person behind the whole thing.

Spano, 50, was the Islanders owner for a couple months in 1996/1997 before it was realized that he was a fraud and lied to get financing for the team.  In January of 1998 he was sentenced to 71 months in prison.  Although he only owned the Islanders for a short time, Spano was able to negotiate an extension of the Islanders cable contract with MSG which possibly saved the team from moving.

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