Sentencing day for former SUNY Polytechnic founder Alain Kaloyeros in the so-called Buffalo Billion federal corruption case has ended with Kaloyeros being sentenced to 3 and a half years in prison. The 62-year-old was found guilty earlier this year in bid-rigging scandal in Governor Cuomo's signature upstate revitalization project. Specifically Kaloyeros was found guilty of Wire Fraud and Conspiracy. Prosecutors said Kaloyeros, who was tapped by Cuomo to get tech companies to invest upstate, conspired with Buffalo's Lou Ciminelli to steer state contracts to Ciminelli and to two Syracuse developers in exchange for big contributions to Cuomo's re-election campaign.
Kaloyeros will also have to pay a fine of $100,000. He will remain free pending his appeal of the conviction.
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