Monday, October 9, 2006
The US Attorney's Office in Massachusetts has a press release here informing the public of a recent white collar sentencing. The former executive of North Andover Corporation was sentenced for convictions on 8 counts of securities and wire fraud to a sentence of 2years and 6 months’ imprisonment, to be followed by 3 years of supervised release. According to the government press release, "[t]he evidence established that the [defendant] falsely overstated the sales and revenues of Interspeed by approximately $9 million, over 60% of the company’s publicly reported revenues, through various fraudulent acts." But one paragraph in the press release is particularly interesting as it states:
"The Securities and Exchange Commission filed a parallel civil proceeding against the defendant. The U.S. Attorney appreciates greatly the cooperation and assistance of the SEC in this matter."
Should a civil agency be permitted to provide materials to the criminal body prosecuting a case?