BizJournals Portfolio
Jul 30 2008 4:19pm EDT

No Worries; He's Booked for the Next 16 Years

The Securities and Exchange Commission said today that it has concluded its civil action against former Refco C.E.O. Phillip R. Bennett. Bottom line: He is forbidden to ever serve as an officer or director of a public company.

No problem there. Bennett will be otherwise engaged after September 4 anyway. That's when he is scheduled to start serving a 16-year sentence for his role in Refco's collapse in an accounting scandal only months after the giant commodities brokerage went public in a $670 million initial stock offering.

Bennett will be plenty busy before September 4, too. Earlier this week, he filed papers in federal court in Manhattan saying that he intends to appeal his sentence.

by Mark Stein


blog comments powered by Disqus
Real Business, Real Results

Did anyone at Microsoft ever watch the (gasp!) offensively funny show Family Guy?

Ex-Morgan Stanley exec Zoe Cruz is now heading her own hedge fund. Are Wall Street's leaders done?

Martha, Bernie and Skilling know that what you wear for court can go a long way in public perception.

spotlight on

Health Care

Bad to the Bone No More

Companies such as General Mills say they're stepping up efforts to change employees' bad behavior and promote healthier lifestyles. Read More