Sat Feb 23, 2013, 08:46 AM
Earth_First (14,158 posts)
Court Scoffs at Light Sentence for CEO's Fraud
CINCINNATI (CN) - The seven-day sentence given to a former CEO whose money-laundering scheme cost investors more $18 million was as "unreasonably low," the 6th Circuit ruled.
Michael Peppel was president, CEO and chairman of the board of directors for MCSi Inc., a computer technology company, from 1998 to 2003, during which time he teamed up with the company's CFO to falsify earnings and elevate stock prices.
Peppel's crimes called for a recommended sentence between 97 and 121 months in prison, but he argued that probation was more appropriate and had witnesses testify as to his character, accomplishments and charitable works.
"The existence of additional components of Peppel's sentence does not cure the district court's failure to explain how a seven-day custodial sentence adequately reflects the seriousness of the offense," Judge Karen Nelson Moore wrote for the panel. "Moreover, as argued by the government, many of the statements made by the district court in this portion of its analysis are improper under our established law. For example, the district court considered collateral consequences of the prosecution and conviction: 'The court accepts Mr. Peppel and his family's representation that the last five years have been punishing, literally and figuratively, for Mr. Peppel, and the court takes that into consideration as well.'"
A seven-day sentence also does not advance the goal of deterring Peppel or others from committing similar crimes in the future, according to the ruling.
A temporary moment of reasoning within the justice system...
2 replies, 521 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Response to Earth_First (Original post)
Sat Feb 23, 2013, 09:12 AM
Buns_of_Fire (9,208 posts)
1. 7 days might be too much, actually.
I would argue for a 90-minute session, locked in a room along with the five people who suffered the most devastating personal losses due to his transgressions.
There, of course, they would sit and calmly point out to him the error of his ways and convince him to be a better person in the future.
Naturally, the state would pick up the resulting cost of reattaching his arms, legs, and whatever other body parts might accidentally become detached during the discussions, which would probably become rather lively.