U.S. District Judge Charles Norgle gave Robert Lunn, 66, on Tuesday less than the nine-year term that prosecutors sought for him.
Lunn was accused of defrauding clients and Oak Brook, Illinois-based Leaders Bank of more than $3.2 million. Prosecutors say Lunn spent most of the money for his own benefit, including mortgage payments and paying investment clients
Pippen testified against Lunn during Lunn's 2014 trial, saying he received financial papers with his signature forged around the time Lunn was his adviser.
In addition to prison, Lunn must forfeit $2.7 million and pay an additional $1.5 million in restitution.