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.
"All the world marveled at this, and gave their allegiance to the Beast. And they worshiped the serpent, for giving such power to him, as they also worshiped the Beast. 'Who is as great as the Beast?' they exclaimed. 'And who is able to resist him?' And the Beast was allowed to commit great blasphemies against God."
Revelation 13:3-5