Gov't Cooperators In Vitesse Fraud Trials Avoid Prison

Law360, New York (March 25, 2014, 5:48 PM EDT) -- Two former Vitesse Semiconductor Corp. employees who admitted to helping the company inflate its earnings — and later testified against top executives — were sentenced Tuesday to time served, after prosecutors lauded their cooperation in the multiyear probe.

U.S. District Judge Paul A. Crotty sentenced Yatin Mody and Nicole Kaplan to time served without probation or a fine. The defendants each pled guilty to securities fraud in 2010 and testified that former Vitesse CEO Louis Tomasetta and former Chief Financial Officer Eugene Hovanec had schemed to...
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