Two Former Rite Aid Executives Sentenced
From Associated Press
Two former Rite Aid Corp. executives were sentenced to prison for their role in a financial scandal at the drugstore chain four years ago.
The company’s former chief financial officer, Franklyn M. Bergonzi, was sentenced by U.S. District Judge Sylvia H. Rambo to 28 months in prison and fined $5,000 for his guilty plea to one count of conspiracy.
Prosecutors said Bergonzi, 58, conspired to commit an accounting fraud that inflated the value of Rite Aid stock.
Rambo also sentenced former Rite Aid Vice President Philip Markovitz to one month in jail, five months’ home confinement and a $5,000 fine.
Markovitz pleaded guilty in July to conspiracy to obstruct justice.