According to Boston.com, John Milne, former president and chief financial officer of United Rentals Inc., has been sentenced to 27 months in prison for conspiring to falsify the company's records. Federal prosecutors said 50-year-old Milne also was ordered to perform 200 hours of community service when he was sentenced today in federal court in New Haven, Conn.
To resolve a separate civil action brought by the U.S. Securities and Exchange Commission, Milne has agreed to emit $6.25 million.
Authorities said Milne admitted that in 2003 he and others conspired to falsify the company's records, including entering falsely inflated gains. The records were related to payments made to settle obligations from minor sale leasebacks.
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