Former Refco President Found Guilty

Law360, New York (April 17, 2008, 12:00 AM EDT) -- Former Refco Inc. President Tone N. Grant faces the possibility of spending the rest of his life in prison after being found guilty on charges related to a scheme to obscure the company's financial condition in the years leading up to Refco's 2005 bankruptcy.

On Thursday, a jury in federal court in Manhattan found Grant guilty on each of the five counts the government leveled against him in the superseding indictment prosecutors filed in February 2008. Those five counts were for conspiracy, securities fraud, bank fraud,...
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