A former Northern Kentucky developer who scammed homeowners, contractors, and banks in a massive check-kiting scheme was recently released from federal prison.

William “Bill” Erpenbeck, 63, headed one of the region’s largest home-building companies before he pleaded guilty in 2003 to defrauding eight banks out of $33.9 million, The Enquirer previously reported.

Erpenbeck and several employees diverted home-sale proceeds to his company’s accounts from 1999 to 2002, all while treating employees to lavish perks, like an annual Caribbean cruise.

He was sentenced to 30 years in prison, though, that sentence was reduced to about 20 years in federal prison.

In 2009, federal agents found $250,000 buried in a cooler at the Summit Hills Country Club golf course after Erpenbeck reportedly asked a friend to bury the cash for him so he could dig it up after getting out prison.

This article originally appeared on Cincinnati Enquirer: Former Northern Kentucky developer Bill Erpenbeck released from prison