Money man Henry sentenced

Former exec pleads guilty to wire fraud

SYDNEY — Ross Henry, former chief financial officer of L.A.-based Village Roadshow Pictures, has paid dearly for his part in a scam which bilked about $10 million from the company.

Henry was sentenced to 30 months in jail Tuesday in the U.S. District Court in L.A. after pleading guilty to charges of wire fraud and “deprivation of honest services.”

Henry admitted wiring money from film production accounts, which was then transferred from bank to bank in various tax havens. The frauds were not discovered until February 2000, two months after he ankled VRP.

Parent company Village Roadshow was able to minimize its losses to about $1.9 million through insurance and being able to reclaim some of that coin.

Henry had been held on remand since March last year after he was arrested at the Los Angeles International Airport, returning from Australia after agreeing to help authorities dealing with the case.

With remissions, he will be eligible for release next April, according to the Sydney Morning Herald.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading