Ex-Langbar CEO Gets 1 Year For Misleading Investors

Law360, New York (June 21, 2011, 3:27 PM EDT) -- The former CEO of Langbar International was found guilty Monday of falsely claiming the investment services company had a £357 million ($579 million) asset value in order to trick investors and was sentenced to a year in prison to pay for his purported crimes.

The U.K. Serious Fraud Office said Stuart Pearson was found guilty of making misleading statements to the market that Langbar had assets held by Banco do Brasil SA that were being transferred to the company. He made these unfounded claims through London...
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