Pleas For Mercy Rejected As Executive Gets 15 Years

Law360, New York (September 25, 2006, 12:00 AM EDT) -- Citing the harsh sentences handed down in recent high-profile white-collar cases, a federal judge sent a milling-industry executive to prison for fifteen years on Monday for his role in a $300 million fraud perpetrated in a desperate attempt to stop his company from going bust.

Former American Tissue chief executive Mehdi Gabayzadeh was sentenced after a jury found he doctored the company’s books to gain financing and avert bankruptcy of the company he co-founded with a fellow Iranian immigrant in 1981.

The judge also ordered a...
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