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Article: Ex-Blues owner gets probation

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New Haven Register
Article date:
October 4, 2008
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Former St. Louis Blues owner Michael Shanahan Sr. was ordered on Friday to pay nearly $8 million in restitution and serve three years of probation for his role in backdating stock options. The 68-year- old former chief executive officer of Engineered Support Systems, Shanahan pleaded guilty in July to one felony count of falsifying records of a publicly traded company.

Federal prosecutors say he and other ESS officials backdated stock options from 1996 to 2002 to enrich executives and board members of the company, which provided military equipment and support services.

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