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| Former computer exec gets up to 11 yrs prison in Citi fraud |
| By reuters.com |
| Published: 12/04/2009 |
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NEW YORK, Dec 3 (Reuters) - A federal judge in Manhattan on Thursday sentenced a former California computer executive to nearly 11 years in prison for trying to defraud Citigroup Inc (C.N) out of more than $83 million. Eric Skys, who once ran Kaiser Himmel Corp, was sentenced by U.S. District Judge William Pauley to 130 months in prison after he pleaded guilty on Aug. 5 to five counts of securities fraud, wire fraud and bank fraud. According to U.S. Attorney Preet Bharara, Skys beginning in August 2007 tried to obtain a more than $83 million loan from Citigroup's bank unit by posting nonexistent stock in phone company Sprint Nextel Corp (S.N) as collateral. Read More. |
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