A former thrift executive's spin in a six-figure Italian sportscar could land him in prison for 20 years.

A federal jury in New Jersey convicted N. Mark Wright, 47, of bank and wire fraud last week for making false statements in connection with a $240,000 loan to buy a Ferrari Testarossa. Mr. Wright, former president and chief operating officer of BankAtlantic in Fort Lauderdale, Fla., is scheduled to be sentenced on April 28.

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