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December 15, 2005

A white-collar sentencing in scarlet and gray

Right in my backyard today was a high-profile white-collar sentencing involving former Ohio State University marketing professor Roger Blackwell and his co-defendants.  Here are highlights from this informative article about today's sentencing:

A federal judge has sentenced Roger D. Blackwell to six years in federal prison for his role in the 1999 Worthington Foods Inc. insider-trading scheme. U.S. District Court Judge James L. Graham on Thursday also ordered Blackwell, 65, to pay a $1 million fine.

Earlier in the day, Graham sentenced co-defendants Kelley L. Hughes to 33 months in prison, and Hughes' husband, Kevin L. Stacy, to 27 months.  They were each fined $53,433, their share of the ill-gotten proceeds from trading in Worthington Foods stock prior to the public announcement in 1999 that the company was being acquired by Kellogg Co.

A helpful reader reported via e-mail that Blackwell's sentence of 72 months "was on the upper end of the guideline range of 63-78 months, and the judge made an upward departure on his fine [in order] to sentence him to pay $1,000,000." 

Some of my prior coverage of the many interesting post-Booker white-collar sentencing issues can be found in these posts:

December 15, 2005 at 03:30 PM | Permalink


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