An man who defrauded Greyhound Leasing and Financial Corp. of more than $67 million has agreed to repay the company more than $79 million plus $10 million for its lawyers.
J.R. Willyard, who was accused of stealing from Greyhound from 1979 to 1985, agreed to the settlement in a trial that has been continuing for months in Salt Lake City. It is being heard by U.S. District Judge Robert C. Broomfield of Phoenix, who approved the settlement.Under the agreement, Willyard will also pay 5 percent interest until the amount is paid off. He was cited for breach of contract and defaulting on loans and leases.
Willyard and Sheldon Player, formerly of Vernal, were accused of taking money they borrowed from Greyhound Leasing & Financial Corp. The leasing scheme cost the company more than $67 million before it was discovered.
Syed A. Hasan, who invested in the partnership, was sentenced to 15 years in prison for perjury and wire fraud.
Willyard earlier pleaded guilty to two counts of mail fraud and one of conspiracy, and was sentenced to five years in prison. Player pleaded guilty to three counts of fraud, and will be sentenced Oct. 3.
Greyhound recovered more than $48 million after Player began cooperating with the company.