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Phillip Bennett bilked investors out of $2.4 billion, which he has been ordered to forfeit. Phillip Bennett, former Refco Inc. chairman and chief executive officer, exits Manhattan federal court in New York, U.S., on Thursday, July 3, 2008. Bennett was sentenced to 16 years in prison for defrauding investors out of $2.4 billion in what U.S. prosecutors said was ``among the very worst'' white-collar crimes. Photographer: Jin Lee/Bloomberg News Former Refco Inc. Chief Executive Officer Phillip Bennett was sentenced to 16 years in prison for defrauding investors out of $2.4 billion in what U.S. prosecutors said was “among the very worst” white-collar crimes. Bennett was also ordered to forfeit the $2.4 billion. U.S. District Judge Naomi Buchwald in Manhattan rejected a government request that Bennett surrender to prison... [read full story]
