InnoVida Holdings Exec Gets 4 Years For $40M Scheme

Law360, Miami (September 20, 2013, 6:45 PM EDT) -- A Miami Beach-area executive was sentenced Friday to four years in prison and ordered to pay $3.3 million in restitution for his role in a scheme conning investors in bankrupt manufacturing company InnoVida Holdings LLC out of $40 million.

U.S. District Judge William P. Dimitrouleas sentenced InnoVida CFO Craig Stanley Toll, who was convicted July 12 by a federal jury on charges including conspiracy and wire fraud, to 48 months in prison just two days after the judge handed down a 12.5-year sentence to InnoVida CEO Claudio Osorio.

In his sentencing order, Judge Dimitrouleas said the four-year sentence avoids an “unwarranted...

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