Scripps Heir Gets 9 Years For Scamming $3.6M From Family

Law360, New York (July 15, 2013, 9:17 PM EDT) -- A Pennsylvania federal judge on Monday sentenced an heir of Detroit News founder James E. Scripps to nine years in prison for embezzling $3.6 million from a family trust to fund his tony lifestyle, which included luxury homes, jewelry and strippers.

U.S. District Judge Legrome D. Davis sentenced Michael Scripps to 108 months for seven counts of wire fraud associated with a five-year scheme in which he colluded with his mother and uncle’s financial adviser to divert $2.9 million from their trust into his own bank...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.