The former president of a failed Miami bank was sentenced to a year in prison for diverting bank funds to a firm that assisted the Nicaraguan Contras in the late '80s.

Louis F. Petrillo, who pleaded guilty last September to misapplication of funds and bank fraud, issued letters of credit for more than $2 million without his bank's knowledge to a Washington, D.C.-based firm called Geomilitech Consultants Corp. in 1986 and 1987.

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