US Attorneys agree not to revoke Krinos bond if he goes to jail Wednesday

YOUNGSTOWN

U.S. attorneys withdrew their motion to revoke the bond of former Campbell Mayor George Krinos on the condition that he reports to prison by 2 p.m. Wednesday.

Krinos, who served as mayor of Campbell from December 2009 to January 2011, received a 57-month prison sentence earlier this year after pleading guilty to securities fraud and willful failure to collect or pay tax.

He was scheduled to report to the U.S. Bureau of Prisons Nov. 1.

U.S. attorneys reached the agreement in proceedings Tuesday before Judge Dan A. Polster in Cleveland’s U.S. District Court.

Krinos also had to submit to a debtor’s examination, which consists of answering questions about finances under oath.

U.S. attorneys filed a motion seeking to revoke Krinos’ bond last week, arguing that Krinos posed an economic threat to the community while out on bond.

The motion singled out Historic Community Rehabilitation, which claims to eliminate blight by obtaining federal, state and local grants to renovate houses. The company was nominally formed by Michael Bobic, an employee in Campbell’s water department, the motion said.

It detailed cases in which Krinos targeted communities in Columbiana, Ashtabula, Stark, Summit and Mahoning counties.

Read more about the case in Wednesday's Vindicator or on Vindy.com.