Wednesday, March 24, 2010

Looter of Family Office Sentenced

When John Doorly pleaded guilty to looting the family office where he worked for three decades, he faced up to 20 years in prison. Yesterday he got off with a bit less: 17 1/2 years and a $1 million fine.

Update. Here's a more detailed article on the sentencing, with details such as this:

Even as he awaited sentencing, a prosecutor said, Doorly was secretly collecting money from a corporation he had set up with Ayer family funds.

Doorly was led from the courtroom in handcuffs by a U.S. marshal as nearly three dozen descendants of Frederick Ayer watched in silence.

No comments: