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HOUSTON (AP) - A debt-ridden businesssman who faked his own death in a boating accident was sentenced Tuesday to seven years in prison.
Larry M. Nixon, 56, also was ordered to pay $9 million in restitution and $3.5 million in fines. Nixon pleaded guilty in September to defrauding two banks.
In August 2003, Nixon's 40-foot speedboat, the "Living Extra Fast," collided with a barge in Galveston Bay. The Coast Guard spent days looking for Nixon but never recovered a body.
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