Friday, May 18, 2007

Seven Year Prison Term for Former U.S. Foodservice Executive

The former marketing director for U.S. Foodservice received an 84-month prison term after being convicted in November 2006 on accounting fraud charges.  Mark Kaiser was described by the sentencing judge as the "the organizer and the leader" of a scheme to inflate earnings by creating fake rebates from suppliers.  The company's former CFO entered a guilty plea and testified against Kaiser.  The seven-year sentence slightly exceeded the Sentencing Guidelines range for the offense of 63 to 78 months.  The judge did allow Kaiser to remain free on bail pending appeal, something that is much more common in white collar crime cases. A Reuters story (here) discusses the sentencing. (ph)

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