Cigarette store owners ordered to pay bank $10.2M

A federal judge is ordering a father and son who once owned 800 discount cigarette stores nationwide to repay a bank $10.2 million they were convicted of defrauding.

John and Ned Roscoe were convicted of lying to Comerica Bank about the value of inventory at their Cigarettes Cheaper! stores to qualify for loans.

U.S. District Judge Ronald Whyte made the restitution order on Monday.

A jury convicted Ned Roscoe of bank fraud in February 2011 and he was sentenced to five years in prison. His father, John Roscoe, pleaded guilty a month earlier to conspiracy to make false statements and was sentenced to a year of house arrest.