Former CEO Of Take-Two Avoids The Slammer
Ryan Brant, the former CEO of Take-Two, recently dodged the slammer and received five years probation for stock option backdating. He called for a plea agreement where he confessed his criminal activity to avoid doing time.
Bloomburg reports:
“Brant's plea agreement also called for him to pay $6.3 million to settle a civil suit filed by federal regulators the day he pleaded guilty and another $1 million to New York City and state officials. Brant attorney Lawrence Iason said his client had paid $4.7 million of the $7.3 million."
The rest of the sentence states that Brant must pay the remainder of the sum by October 15th. Brant can forget about rising to the top again since he is forbidden to hold “control management positions” in public companies.
It is a shame that his career made this terrible turn. He founded the company back in 1993 when he was 21, and now he is paying a heavy price for his recent conduct.
Take-Two Founder Dodges Clink [next-gen.biz]
Toots
Posted to Hot Stuff, Video Games on 1 August 2007
Other stuff like this: legal, Ryan Brant, take two
