Ex-Refco President Asks For Shorter Sentence

Law360, New York (July 21, 2008, 12:00 AM EDT) -- Former Refco Inc. President Tone N. Grant asked a federal judge on Friday to sentence him to a “small fraction” of the 16 years former CEO Phillip R. Bennett received because, he said, his role in the alleged fraud was comparatively minor.

Lawyers for Grant argued that he was far less culpable in the massive fraud scheme that brought down one of the world's largest commodities brokerages. Unlike Bennett, who “conceived of the fraud, initiated it, and came up with the means by which it was...
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