Michael Peppel, the former CEO of MCSi Inc., based in Dayton, Ohio, was convicted on charges of conspiracy, fraud, and money laundering for a scheme which defrauded investors of $18 million. Peppel allegedly cooked MCSi’s books to cause its stock value to remain high.
Peppel faced between eight to 10 years’ imprisonment. However, according to the Columbus, OH, Republic, in 2011, the U.S. District Court for the Southern District of Ohio sentenced Peppel to one week in prison. All the Blog can say is: well done indeed, Mr. Peppel.
In fairness to the District Court, District Court Judge Sandra Beckwith found Peppel to be “a remarkably good man.” Peppel defended that he had made misrepresentations to MCSi’s investors in an effort to save the company. He pleaded the fact that his family depends on him, and his community service work helping convicted felons find work to the Court.
As you probably guessed would happen, in February, the U.S. Court of Appeals for the Sixth Circuit overturned Peppel’s sentence as “drastically light.” The District Court is set to hand down a new sentence on June 4.
“Discourage litigation. Persuade your neighbors to compromise whenever you can. As a peacemaker the lawyer has superior opportunity of being a good man. There will still be business enough.” — Abraham Lincoln
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