Aspen Exec Must Pay $100M, Serve 7 1/2 Years For Fraud

Law360, New York (September 15, 2011, 9:52 PM EDT) -- A Texas federal judge on Wednesday sentenced Aspen Exploration Inc. director Mark Albert Rand to nearly seven and a half years in prison and ordered him to pay almost $100 million in restitution for his role in a $56 million scam to solicit investments in fake oil well projects.

U.S. District Judge Jorge A. Solis ordered Rand in August to sell personal items including a 1967 Ferrari, Picasso artwork and jewelry, to count toward $99.7 million in restitution, which Rand will pay along with four co-conspirators...
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