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Article: Sigma Chairman Teo indicted again.(News)(Brief Article)
- Article from:
- Plastics News
- Article date:
- August 23, 2004
- Author:
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Joseph Pryweller
Sigma Plastics Group Chairman Alfred Teo has been indicted on criminal charges by the federal government for alleged securities fraud and insider trading, heaping onto his recent legal troubles.
Teo, owner of the largest plastic-bag producer in the United States, was indicted on similar charges in April by the Securities and Exchange Commission.
The SEC case carries civil-enforcement penalties, including fines and the potential barring of Teo's participation on publicly held boards of directors. The criminal case, filed April 18 in U.S. District Court in Newark, N.J., carries the possibility of a prison sentence - 10 ...