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Gold/Mining/Energy : ELC - ELECTRIC CITY CORP (eccc)
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To: afrayem onigwecher who wrote (8)5/30/2001 6:06:35 PM
From: Sir Auric Goldfinger  Read Replies (1) of 46
 
05/30 3:06P (DJ) +DJ Defendant In Hanover Sterling Case Sentenced To 13 Yrs
Story 5042 DJ Hanover Sterling Defendant-2:Sentenced To 141 Mos In Jail
NEW YORK (Dow Jones)--Robert Catoggio, the lead defendant in the Hanover
Sterling stock fraud scheme, was sentenced to 141 months of incarceration, the
U.S. Department of Justice said in a press release Wednesday.
Catoggio also was sentenced to five years of supervised release, an order of
restitution of $80 million and a mandatory special assessment of $200.
Previously, Catoggio was sentenced to an 18-month term of incarceration in
connection with a related securities fraud scheme.
Earlier in May, he pleaded guilty to racketeering charges; a total of 60
defendants were convicted, 58 by guilty plea and two after trial.
According to the justice department, the Hanover Sterling stock scheme was
led by Catoggio and Roy Ageloff, who pleaded guilty to the Racketeer
Influenced and Corrupt Organizations charge in mid-August and will be
sentenced in June.
The case is the largest single criminal securities fraud case ever filed,
the department said.
The stock fraud scheme extended for an eight-year period, included four
brokerage houses, involved the manipulation of stocks and warrants for more
than 17 companies and resulted in losses to investors of more than $150
million.
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