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Another long sentence for a chief involved in corporate fraud

By Douglas A. Berman

As detailed in reports from Bloomberg News and Reuters, another corporate fraud led to another very long prison sentence in federal court today.  Here are some notable highlights from the Bloomberg report:Daniel Marino, the former finance chief of the bankrupt hedge-fund firm Bayou Group LLC, was sentenced to 20 years in prison for defrauding investors of as much as $400 million.  The judge cited the size and length of the eight-year fraud, and Marino's role as its "linchpin'' in setting the sentence.  Marino, 48, who had sought leniency due to his cooperation with prosecutors, was ordered imprisoned immediately.  He was handcuffed by marshals in the well of the courtroom and led away. "You are as much a career criminal as any mobster or any drug kingpin,'' U...continue to full post

Full post as published by Sentencing Law and Policy on January 29, 2008 (boomark / email).