1 hour, 44 minutes ago NEW YORK (Reuters) - Phillip Bennett, the former chief executive of Refco, was sentenced to 16 years in prison on Thursday for a nearly decade-long fraud that ultimately pulled the commodities brokerage into bankruptcy.Bennett, a 59-year-old British citizen, pleaded guilty in February to 20 counts of fraud, conspiracy, money laundering and lying to auditors.
U.S. District Judge Naomi Buchwald ordered Bennett to be kept under house arrest in his New Jersey home until he surrenders to a federal facility on September 4. After serving his sentence, Bennett is to be deported to his native United Kingdom.
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