Facing March Trial, Ex-Refco CEO Pleads Guilty

Law360, New York (February 15, 2008, 12:00 AM EST) -- Former Refco Inc. chief executive Phillip R. Bennett walked out of federal court in Manhattan Friday evening facing the possible equivalent of a life sentence, after pleading guilty to all 20 counts leveled against him by federal prosecutors in a January 2007 indictment.

Bennett offered up his guilty plea in the U.S. District Court for the Southern District of New York, obviating the need for him to stand trial with two other former Refco executives in March.

Prosecutors accused Bennett, former Refco chief financial officer Robert...
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