and ordered to pay $420,000 in fines and $12 million in restitution. The latter figure was the amount the judge determined had been proven stolen, though it was less than the amount the prosecution alleged. At the time, it was the state's longest sentence for a "white collar" offense. Release and repayment Mollicone was released on parole in 2003, after serving 10 years of his sentence. Upon release, he told a reporter that, with regard to the money he stole, "people who are supposed to know, know it's gone." He will be on parole until 2023, and probation until 2025. Upon release he was ordered to begin repaying the fines and restitution. Though first drawn from his wages, he then retired, making payments out of his social security income. Another condition of his release was a requirement that he talk about business ethics with students. In 2009 a judge granted the Internal Revenue Service (IRS) permission to take legal action against Mollicone and to seize any assets he has in order to pay $33 million in taxes and associated penalties and interest from the time he was still working at Heritage Loan & Investment. The IRS has not confirmed whether they have taken those measures. , the 74-year-old Mollicone was still living in Rhode Island and was working two jobs. He was paying between $300 each month towards the debt, totaling $33,947.50 since his release, a rate at which it would take thousands of years to pay back. References 1990s economic history 1990s in Rhode Island Banking crises History of Rhode Island American Mafia events Patriarca crime family Crime in Rhode Island Embezzlement Credit union crises