8 Years In Prison Enough For Smart Online Exec: SEC

Law360, New York (December 2, 2010, 2:29 PM EST) -- The U.S. Securities and Exchange Commission has dropped its case against the former CEO of Smart Online Inc. because he has already been sentenced to eight years in prison on federal charges of manipulating the Internet software developer's stock through bribery and other illegal means.

Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York on Wednesday signed off on the SEC's request, submitted in conjunction with Dennis Michael Nouri's counsel.

Nouri was sentenced in May for his role in...
To view the full article, register now.