Ex-Optionable CEO Gets 30 Months For Gas Stock Fraud

Law360, New York (April 25, 2012, 9:31 PM EDT) -- A New York federal judge on Wednesday sentenced former Optionable Inc. CEO Kevin Cassidy to 2 1/2 years in prison for conspiring with a Bank of Montreal trader to overstate the value of the bank's natural gas options book.

U.S. District Judge Thomas P. Griesa handed Cassidy a sentence of 30 months in prison plus three years' probation and ordered him to forfeit $200,000.

Cassidy pled guilty in August to conspiracy to commit wire fraud, admitting that he had his commodities brokerage firm furnish price quotes...
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