Phillip Bennett, head of Refco Inc. got sixteen years for fraud. The sentence was read in Federal Court by Judge Naomi Reice Buchwald and based on losses he had caused.
She pointed to the greed and arrogance which defines Bennett and those like him who stop at nothing to attain wealth and power.
The prosecution wanted between 16.5 and 22 years in prison for the culprit.
Bennett will stay at home in NJ until he reports to prison in Sept. She would not allow a request to have him sent to prison immediately.
If you or a family member is arrested you should consult with a Queens Criminal Lawyer. This consultation with a Queens Criminal Attorney will give you the knowledge needed to make the right decisions for yourself.
The Judge declared that restitution will be worked later.
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