Former Duane Reade CEO sentenced to jail

The former chief executive of Duane Reade, the New York City drugstore chain, was sentenced on Monday to three years in prison for exaggerating the company’s income.Anthony J. Cuti, 65, of Saddle River, N.J., was also ordered to pay a $5 million fine by Federal District Court Judge Deborah A. Batts, who called him a “gifted, arrogant, driven and entitled individual who betrayed his position as C.E.O.” He must report to prison in January to begin serving his sentence.

via Cuti, Former Duane Reade Chief, Sentenced in Fraud Case –

I guess these executives haven’t learned the lesson from Enron.

Leave a Reply

Your email address will not be published. Required fields are marked *