The Associated Press reported today that the former chief financial officer of United Rentals, Greenwich, Conn., pleaded guilty to making false filings with regulators that enabled him to make a profit of $11 million, according to federal prosecutors.
Michael Nolan, 47, entered his guilty plea in federal court in Bridgeport, Conn., of making the false filings with the U.S. Securities and Exchange Commission in violation of federal securities laws, the AP article said.
Nolan, Raleigh, N.C., faces up to 10 years in prison and a fine up to about $22 million. He will also be required to pay restitution of $11.1 million.
Click here to link to entire AP story.
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