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Article: Former Friedman's CEO Bradley Stinn jailed for fraud.(FACETS)
- Article from:
- Israel Diamonds
- Article date:
- June 1, 2009
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Bradley Stinn, the former CEO of jewelry retailer Friedman's Inc and its affiliate Crescent Jewelers has received a 12-year prison sentence for securities fraud, mail fraud and conspiracy for his role in a massive accounting fraud scheme aimed at inflating Friedman's financial performance. Stinn and some other company officers, including former Chief Financial Officer Victor Suglia, were indicted for repeatedly deceiving shareholders about Friedman's financial performance.
Suglia and Friedman's former controller, John Mauro, pleaded guilty to conspiracy and mail fraud in 2007. Stinn could have been jailed for a maximum 25 years on the most serious charge.