Financier Reed Slatkin, a key player in the creation of Internet service provider EarthLink Inc., was sentenced on Tuesday to 14 years in prison after pleading guilty to bilking investors out of hundreds of millions of dollars.
A federal court in Los Angeles also ordered Slatkin to pay more than $240 million in restitution to clients of his fund management business.
The government had asked that he be sentenced to the minimum in a range from 11 years and three months to 14 years after defrauding investors of nearly $600 million, but Judge Margaret Morrow chose the more severe option.
"The havoc that the defendant has wreaked is immense, the loss is immeasurable," she told a courtroom packed with attorneys and victims of Slatkin.
It's nice to see a judge go for the higher sentence when it comes to going after these white collar crooks. As usual the prosecution just wants the maximum for young black kids.