According to Reuters
a former chief executive of Optionable Inc commodities brokerage was handed a
prison term of 2-1/2 years on Wednesday for his role in defrauding the Bank of
Montreal by helping inflate the value of the bank's natural gas derivatives
portfolio.
In August last year, the former Optionable executive, Kevin
Cassidy, of Bedford Hills, New York, pleaded guilty to one count of conspiracy
to commit wire fraud in Manhattan federal court. Cassidy was charged in
November 2008 with six felony counts.
U.S. District Judge Thomas Griesa sentenced Cassidy on
Wednesday to 30 months in prison to be followed by three years of supervised
release. The judge also ordered Cassidy to forfeit $200,000….
Find out more at http://www.reuters.com/article/2012/04/26/us-bankofmontreal-optionable-sentencing-idUSBRE83P05O20120426
No comments:
Post a Comment