Sentinel Trustee Slams Execs In $350M Fraud Suit

Law360, New York (October 12, 2007, 12:00 AM EDT) -- The trustee appointed to oversee the bankruptcy of Sentinel Management Court wants the company's executives to pay for the alleged accounting fraud that drove the company into bankruptcy, to the tune of $350 million.

Frederick J. Grede, the Chapter 11 trustee for Sentinel Management Group. Inc., filed an adversary proceeding against Sentinel founders Philip M. Bloom and Eric A. Bloom and Senior Vice President Charles K. Mosley on Oct. 11 in the U.S. Bankruptcy Court for the Northern District of Illinois.

The suit, which demands $350...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.