Ex-Duane Reade Exec Seeks To Avoid Prison Time

Law360, New York (November 1, 2010, 7:44 PM EDT) -- Facing a recommended five years in prison for a securities fraud conviction, William Tennant, former chief financial officer of Duane Reade Inc., is asking a federal judge to spare him a prison sentence in favor of probation.

Tennant, 63, filed an 81-page sentencing memorandum Friday asking the U.S. District Court for the Southern District of New York to depart from sentencing guidelines and issue a noncustodial sentence.

The securities fraud conviction carries a maximum prison sentence of 20 years, but a probation officer's presentence report calls...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.