Former Duane Reade CEO Appeals $7.6M Restitution

Law360, New York (March 12, 2014, 3:27 PM EDT) -- The former CEO of Duane Reade, who in December finished serving three years in federal prison for fraud, on Tuesday renewed appealing the $7.6 million restitution he was ordered to pay, claiming evidence of judicial vindictiveness.

Anthony Cuti was convicted in June 2010 of plotting to inflate the drugstore chain's apparent income by recording phony real estate earnings, hoping to profit when Oak Hill Capital Partners took the company private in 2004. According to court documents, Judge Deborah Batts said in a July 2011 opinion that...
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.