Ex-Critical Path Exec Sentenced
9/11/2002 4:38:00 PM
SAN FRANCISCO, Sep 11, 2002 (AP Online via COMTEX) -- A former Critical Path Inc. executive convicted of insider trading has been sentenced to six months in prison.
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Timothy Ganley, 46, the former vice president of strategic sales at the San Francisco-based high-tech company, also was sentenced Tuesday to two years supervised release with a condition of six months home detention. The court ordered Ganley to surrender to U.S. marshals on Jan. 13, 2003, to begin his prison service.
Ganley is the first former Critical Path executive to receive a criminal sentence from a stock fraud that occurred at the company during the third and fourth quarters of 2000.
Three other former Critical Path executives - David A. Thatcher, 47, Jonathan Beck, 33, and Kevin Clark, 37, - also face criminal charges.
Ganley pleaded guilty in April. According to his indictment, Ganley sold 1,300 shares of Critical Path stock at a time when he was aware the company was recording false revenues and fraudulently under-recording expenses |
