Spongetech Consultant Wants Break On Perjury Sentence

Law360, New York (September 30, 2011, 7:06 PM EDT) -- A marketing consultant soon to be sentenced for lying about his role in helping Spongetech Delivery Systems Inc. cover up an alleged pump-and-dump scheme asked a federal New York judge on Thursday to eschew prison time in favor of supervised release.

George Speranza, an independent consultant hired by Spongetech to market its products, admitted to prosecutors in May that he lied during a U.S. Securities and Exchange Commission investigation about helping the sponge-filled soap maker mislead shareholders with fake client websites. He copped to one count...
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