{"id":1878,"date":"2017-11-09T18:25:23","date_gmt":"2017-11-10T00:25:23","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1878"},"modified":"2022-03-22T15:07:32","modified_gmt":"2022-03-22T20:07:32","slug":"criminal-securities-fraud-ex-arcp-cfo-sentenced-18-months-reit-scam-former-merrill-lynch-broker-pleads-guilty-excessive-commissions-businessman-convicted-defrauding-washington-m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/criminal-securities-fraud-ex-arcp-cfo-sentenced-18-months-reit-scam-former-merrill-lynch-broker-pleads-guilty-excessive-commissions-businessman-convicted-defrauding-washington-m\/","title":{"rendered":"Criminal Securities Fraud: Ex-ARCP CFO Sentenced to 18 Months for REIT Scam, Former Merrill Lynch Broker Pleads Guilty Over Excessive Commissions, and Businessman Convicted For Defrauding Washington Mutual Bank"},"content":{"rendered":"

Ex-American Reality CFO to Go to Prison for 18 Months<\/strong><\/h2>\n

In Manhattan, a US District Court Judge has sentenced Brian Block to 18 months behind bars. Block, who was the CFO of American Realty Capital Properties, was found guilty of fraud when he inflated the financial statements of the real estate investment trust.<\/p>\n

Prosecutors accused Block of inputting bogus figures when preparing the REIT\u2019s financial reporting. He allegedly did this to hide a calculation mistake that occurred in an earlier financial report.<\/p>\n

Following the disclosure of the accounting misstatements, American Realty\u2019s share price plunged, taking with it over $3B of the REIT\u2019s market worth. It was in late 2014 that the REIT announced that employees had purposely hidden accounting errors.<\/p>\n

The REIT\u2019s ex-chief accounting officer, Lisa McAlister, has also pleaded guilty to charges over this matter.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ex-American Reality CFO to Go to Prison for 18 Months In Manhattan, a US District Court Judge has sentenced Brian Block to 18 months behind bars. Block, who was the CFO of American Realty Capital Properties, was found guilty of fraud when he inflated the financial statements of the real estate investment trust. Prosecutors accused […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3994,3751,3752,3800],"tags":[],"class_list":["post-1878","post","type-post","status-publish","format-standard","hentry","category-bank-fraud","category-bank-of-america","category-financial-firms","category-merrill-lynch"],"yoast_head":"\nSecurities Fraud News: Ex-ARCP CFO Sentenced to 18 Months for REIT Scam | Securities Fraud Attorney<\/title>\n<meta name=\"description\" content=\"Read the latest securities fraud news including an ex-ARCP CFO being jailed for a REIT scam and ex-Merril Lynch broker could face prison sentence.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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