Ex-Refco CEO Bennett Sentenced To 16 Years in Prison for Fraud
By Chad Bray
Wall Street Journal
NEW YORK -- Phillip R. Bennett, Refco Inc.'s former chief executive, was sentenced to 16 years in prison Thursday after he pleaded guilty to criminal charges in a scheme to hide the commodities broker's financial troubles.
At a hearing Thursday, U.S. District Judge Naomi Reice Buchwald in Manhattan said white-collar defendants like Mr. Bennett often "just don't think they'll get caught."
"You and others like you play a truly high-stakes poker game," the judge said.
The judge didn't impose a fine and said restitution will be discussed at a later date.
"Why is my language not clear to you? Because you are unable to hear what I say. You belong to your father, the devil, and you want to carry out your father’s desires. He was a murderer from the beginning, not holding to the truth, for there is no truth in him. When he lies, he speaks his native language, for he is a liar and the father of lies."
John 8:43-44