New Jersey Accounting Fraud Case Sentences Former Executive
An Upper Saddle River, New Jersey, man has been sentenced to a year and a day in federal prison for an accounting fraud scandal, which apparently artificially propped up the stock price of insurer American International Group Inc. According to this news report, Christopher Garand, who served as a senior vice president at Gen Re, was also fined $150,000 and will be under two years of supervised release after the term ends for his role in the case. The 61-year-old Garand is one of five former executives convicted on fraud and conspiracy charges in February 2008.
Being charged with fraud in New Jersey can be a complicated criminal offense. Criminal fraud charges can be brought either against individuals or a business. The penalties for fraud, as seen in this particular case, can range from heavy fines and probation to lengthy prison terms. The stigma attached to a fraud charge or a white collar crime can destroy a business' or an individual's reputation.
If you find out that you are being investigated for fraud, it is very important that you call a reputed and experienced New Jersey criminal defense attorney as soon as possible. The aggressive and skilled attorneys at Lependorf & Silverstein take a proactive approach to fraud cases and can sometimes get your case dismissed even before you are indicted. Our goal is to save your most valuable business asset – your reputation – before it gets tarnished and dragged through the court system. If you have been accused of a white collar crime in New Jersey, please contact Lependorf & Silverstein for a free consultation.
