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Former Take-Two CEO Ryan Brant was sentenced to five years of probation for his role in stock-option backdating, after agreeing to cooperate with prosecutors, Bloomberg reports.
Brant's February plea also required him to pay $6.3 million to settle a civil suit filed by federal regulators another $1 million to New York city and state officials. He's already forked over $4.7 million of that. More than 200 companies are under similar investigations, but Brant, 35, became the first CEO convicted in the cases.
``I'm deeply sorry for my role as an executive in the company and my role in the options dating process,'' Brant told New York State Supreme Court Justice Brenda Soloff today in Manhattan. Brant had faced up to four years in prison.
Brant was one of three Take-Two officials convicted in the case.
Take-Two Ex-Chief Sentenced to 5 Years of Probation (Update3) [Bloomberg]
