Ohio CEO Sentenced To 7 Days In Jail Could Now Get 10 Years

A former Ohio CEO could get 10 years in prison for inflating stock prices and losing investors millions.(Photo: flickr: dannels)
A former Ohio CEO could get 10 years in prison for inflating stock prices and losing investors millions.(Photo: flickr: dannels)

A former Ohio CEO sentenced to one week in prison for inflating stock prices and losing investors millions could now face a sentence of up to 10 years.

The drastic difference comes after a federal appeals vacated Michael Peppel’s first prison term in February, saying it was unreasonably short for the seriousness of his crimes.

Judge Sandra Beckwith will re-sentence Peppel this week in federal court in Cincinnati.

Beckwith is the same judge who handed down Peppel’s one-week sentence in October 2011, saying he was “a remarkably good man.”

Prosecutors are asking that he get 10 years in prison.

The 44-year-old Peppel pleaded guilty in 2010 to money laundering in what prosecutors say was a deliberate scheme to defraud millions of dollars from investors in the now-defunct MCSi Inc.

Comments