Ex-Rite Aid Exec Released After Re-sentencing
HARRISBURG, Pa. (AP) – A former Rite Aid Corp. executive has been freed following a resentencing hearing in an accounting scandal that saw him spend nearly six years in prison.
The Patriot-News of Harrisburg reports a federal judge on Tuesday sentenced 83-year-old former vice chairman Franklin Brown to timeserved and ordered him released from federal custody.
Brown was initially sentenced to 10 years in prison for taking part in a $1.6 billion accounting scandal that severely hurt Rite Aid’s stock. An appeals court in May overturned his sentence.
Brown will remain on probation for a year. He declined comment to The Patriot- News (http://bit.ly/nrpjxp) following his hearing.
The scandal cost Rite Aid an estimated $18 million.