crime

High-Profile Fraud Case Ends with 12-Year Sentence for Ex-CEO

Summary

A federal court sentenced former tech CEO Alan Pierce to 12 years in prison today for orchestrating a $75 million securities fraud scheme. The verdict came after a six-month trial

A federal court sentenced former tech CEO Alan Pierce to 12 years in prison today for orchestrating a $75 million securities fraud scheme. The verdict came after a six-month trial in New York, where prosecutors presented evidence of Pierce’s manipulation of company financials to inflate stock prices. Reuters reports the judge also ordered Pierce to pay $40 million in restitution. The case has drawn widespread attention due to Pierce’s prominence in the tech industry and the scale of the fraud. Defense attorneys announced plans to appeal the ruling.
Feb 16
High-Profile Fraud Case Ends with 12-Year Sentence for Ex-CEO

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