English: Rajat Kumar Gupta, Chairman of the Board, The Global Fund to Fight AIDS, Tuberculosis and Malaria; Senior Partner Emeritus, McKinsey & Company, USA; Member of the Foundation Board of the World Economic Forum, captured during the session 'Completing the Malaria Mission' at the Annual Meeting 2009 of the World Economic Forum in Davos, Switzerland, January 31, 2009. (Photo credit: Wikipedia)
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Fmr Sanofi Exec Gets 16 Months For Insider Trading (Bloomberg) - A former Sanofi (SAN) executive who cooperated with prosecutors was sentenced to 16 months in prison by a judge who called him a leader of an insider-trading ring that made $1.4 million in profit off pharmaceutical and medical-technology company tips. Mark Cupo, 53, was sentenced yesterday in federal court in Newark, New Jersey, to a longer term than the two men he helped convict. Cupo pleaded guilty Oct. 7 after making secret recordings for authorities of the two primary traders in the ring, Lawrence Grum, 50, who was sentenced April 9 to a year and a day in prison, and Michael Castelli, 50, who got nine months.
Rajat Gupta To Surrender June 17, 2014 (DealBook) - Rajat K. Gupta, the former Goldman Sachs director convicted of insider trading, has agreed to surrender to prison on June 17, according to a court filing on Thursday. Mr. Gupta, who was a widely admired corporate executive before he was ensnared in the government’s investigation into insider trading on Wall Street, was found guilty in 2012 of leaking boardroom secrets to the former hedge fund manager Raj Rajaratnam.
Fmr City of Bell, CA Administrator Gets 12 Years Prison (LA Times) - Robert Rizzo, the city administrator who oversaw an era of corruption and graft in one of Los Angeles County’s poorest cities, was sentenced Wednesday to 12 years in state prison. Rizzo stared straight ahead, his palms pressed against the defense table as the sentence was read. “Mr. Rizzo, you did some very, very bad things for a very long time,” Superior Court Judge Kathleen Kennedy told the former Bell city administrator.
Augusta, GA Woman Gets 24 Years For Real Estate Scam (Augusta Chronicle) - U.S. District Court Judge J. Randal Hall sentenced Regina Preetorius, 47, to the near maximum possible because of the extent of the financial damage left in her wake, and for Preetorius’ continued determination to blame others for her misdeeds. In looking up synonyms for the phrase “con artist,” Hall said he found one that most accurately described Preetorius — “land pirate”.
Arkansas Man Charged With Theft From Church, School (KATV) - Police in Van Buren have arrested a man for allegedly embezzling $94,000 from a church and a school where he handled the organizations' finances.
Prison Phone Company, Tel Link, Is For Sale (WSJ) - Global Tel*Link Corp., the largest U.S. operator of prison phones, is being shopped by its private-equity owner, according to people familiar with the matter. The sale process comes as federal regulators have capped the fees companies like Global Tel*Link can charge for interstate calls to and from inmates and as the government considers limiting charges for calls made within state lines. The Mobile, Ala., company, known as GTL, has been passed between private-equity firms over the past decade, most recently selling in late 2011 for about $1 billion to New York-based American Securities LLC, which is now looking for a buyer for GTL.