2nd Circ. Affirms Sentence For Ex-American Tissue CEO

Law360, New York (June 28, 2011, 7:10 PM EDT) -- The former head of American Tissue Inc. on Monday lost his Second Circuit appeal of a 15-year prison sentence for his alleged role in a $300 million securities fraud perpetrated in a failed attempt to stop his company from going bust.

Ex-American Tissue CEO Mehdi Gabayzadeh was found guilty in November 2006 in New York federal court of eight counts, including securities fraud conspiracy, bank and wire fraud, and bankruptcy fraud, in connection with a scheme to gain financing and avoid bankruptcy for the company he...
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