American Realty Cooperator Dodges Prison For REIT Fraud
Law360 (March 23, 2018, 7:14 PM EDT) -- The former chief accounting officer of American Realty Capital Properties Inc. on Friday was spared from serving any prison time for her role in inflating the publicly traded real estate investment trust’s numbers in regulatory filings, with the judge crediting her cooperation in a case against the REIT’s former chief financial officer.
U.S. District Judge J. Paul Oetken sentenced Lisa McAlister to time served, with one year of supervised release, saying it’s clear she was less culpable that the REIT’s former CFO, Brian S. Block, who was convicted for manipulating the reported financial results of American Realty by falsely inflating a...
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