Newshound
Joined: 01 Jan 1970
Posts: 33670
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| Posted: Wed Jul 23, 2008 4:00 am Post subject: Former Blues owner enters guilty plea |
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A former owner of the St. Louis Blues hockey team faces sentencing later this year after pleading guilty to a federal charge for backdating stock options.
In a plea agreement reached on Monday, former Engineered Support Systems Inc. co-founder Michael Shanahan Sr. also agreed to repay $7.9 million. In exchange for the guilty plea on one count of falsifying the records of a publicly traded company, the government dropped 11 other charges against Shanahan.
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