Former Westar CEO sentenced in bank fraud case
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KANSAS CITY, Missouri  - A federal judge resentenced David Wittig, the former chief executive of Westar Energy Inc. , to 24 months in prison for bank fraud on Monday.
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Former execs had been charged with fraudulent wire communications, identity theft and conspiracy.
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HARRISBURG, Penn. - A former Rite Aid Corp. vice chairman was sentenced on Thursday to 10 years in prison for his part in an accounting scandal that brought the US drug store chain near bankruptcy.
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InfoWorld - Former Brocade Communications Systems CEO Gregory Reyes has been sentenced to 21 months in prison and a $15 million fine for fraud related to backdating of the storage networking company's stock options.
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A federal judge in Brooklyn sentenced a former F.B.I. agent to six years in prison for racketeering and securities fraud related to the inside-trading prosecution of a former stock picker, Anthony Elgindy.
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Enron Corp.&#39;s former top investor relations executive pleaded guilty Wednesday to a securities fraud charge. Mark Koenig, 49, pleaded guilty to one county of aiding and abetting securities fraud, which carries a maximum penalty of 10 years in prison.
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JACKSON, Miss. -- Former WorldCom Corp. chief Bernard Ebbers is set to start a 25-year federal prison sentence on Tuesday for his role in the $11 billion accounting fraud that toppled a company he had built from a tiny telecommunications firm to an industry giant.
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A federal jury has convicted the former owner and president of ATE Tel Solutions of wire fraud in a scheme to defraud the E-Rate program, according to the U.S. Department of Justice.
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The federal fraud trial of former Westar Energy Inc. chief executive David Wittig and his top deputy ended Monday in a mistrial after jurors could not reach a verdict on more than half of the charges.
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Brocade Communications Systems  Inc's  former chief was sentenced on Wednesday to 21  months in prison for backdating stock-option grants in a  scandal that has ensnared scores of U.S. companies and led to  billions of dollars of restatements.
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Four former executives with computer networking and security vendor Enterasys Networks have been sentenced to prison terms for their roles in accounting fraud at the company that cost investors millions of dollars, the U.S. Department of Justice announced Tuesday.
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A former executive of CA Inc. was sentenced to 10 months of home confinement for conspiring to buy the silence of two people as part of a $2.2 billion fraud scheme.
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A former Credit Suisse banker accused of leaking confidential information about several major deals was convicted in Federal District Court in Manhattan.
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(InfoWorld) - Four former executives with computer networking and security vendor Enterasys Networks have been sentenced to prison terms for their roles in accounting fraud at the company that cost investors millions of dollars, the U.S. Department of Justice announced Tuesday. The executives were convicted on conspiracy and fraud charges during a December 2006 trial. At sentencing hearings that began last week in U.S. District Court for the District of New Hampshire, Judge Paul Barbadoro sentenced former Enterasys CFO Robert J. Gagalis to 11 1/2 years in prison. Gagalis was convicted of one count of conspiracy, two counts of securities fraud, one count of making false statements to auditors of a public company, and four counts of wire fraud. Bruce D. Kay, a former Enterasys finance executive, was sentenced to 9 1/2 years in prison. The jury found Kay guilty of one count of conspiracy, two counts of securities fraud, one count of falsifying books and records of a public company, one count of making false statements to auditors of a public company, and three counts of wire fraud. Robert G. Barber, a former Enterasys business development executive, was sentenced to eight years in prison and fined $25,000. The jury found Barber guilty of conspiracy, two counts of securities fraud, one count of falsifying books and records of a public company, and one count of making false statements to auditors of a public company. Hor Chong "David" Boey, former finance executive in Enterasys' Asia Pacific division, was sentenced to three years in prison. Boey was convicted of conspiracy, two counts of securities fraud, one count of falsifying books and records of a public company, one count of making false statements to auditors of a public company, and two counts of wire fraud. Starting in mid-2001, the four defendants and other Enterasys executives inflated the company's revenue figures as a way to meet expectations of financial analysts and to maintain or increase the price of the company's stock, the DOJ said. The defendants backdated and falsified documents and concealed terms of business transactions from Enterasys' auditors in order to inflate revenue, the DOJ said. The conspirators also fraudulently created false revenue by secretly investing company funds in other companies and having those companies to use the investment proceeds to buy Enterasys products. Because of the fraudulent scheme, public investors lost at least $97 million, the DOJ said. The four "will spend years in prison for perpetrating a fraud that cost Enterasys shareholders millions of dollars," Alice Fisher, assistant attorney general in the DOJ's Criminal Division, said in a statement. Several other former Enterasys executives, including former Chairman, President and CEO Henry Fiallo have previously pleaded guilty to felony charges in connection with the scheme. To date, eight former Enterasys executives have been convicted of felonies. An Enterasys spokesman said the none of the four defendants have worked for the company recently. The company is under new management and ownership since the accounting fraud case was filed, and the convictions will not affect the company going forward, said Kevin Flanagan, company spokesman. The accounting fraud case "is very much in the past" for the company, he added.
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CHICAGO -- A former employee was sentenced to 4 1/2 years in prison for stealing more than $500,000 from public broadcasting station WTTW-TV.
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A former executive of biotechnology firm MedImmune Inc. faces 15 to 21 months in prison after pleading guilty Friday to securities fraud and perjury in US District Court in Washington.
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A former executive with Computer Associates who pleaded guilty to securities fraud was sentenced to seven months in prison and seven months of home detention.