Phillip Bennett

Phillip Bennett formerly of Refco was sentenced to 16 years in prison for trying to hide huge losses from the investing public. The debt of $430M of the firm that Bennett controlled that was owed to Refco was hidden when Refco went public. The Yahoo article can be seen here.

InvestmentNews.com: Andrew Coen reports that prosecutors in Bennetts case have ordered him to pay $2,400,000,000 to the U.S. government as restitution.

July 3, 2008 In: People Comments (None)