Former Sommet CEO Sentenced to 20 Years in Prison

Sommet CEO, Brian Whitfield

from bizjournals.com

Seven months after a jury found him guilty on 14 of 15 counts of fraud and embezzlement, and nearly five years after federal authorities raided his company, Sommet Group’s, Franklin offices, Brian Whitfield was sentenced Monday.

A federal judge order Whitfield, the former head of Sommet Group, to 20 years in prison and nearly $26 million in restitution. After completing his sentence, he’ll enter three years of supervised probation.

Prosecutors had sought a sentence of 28 years and nearly $26 million in restitution. Whitfield’s attorney, Peter Strianse, filed a motion late last week calling for a shorter sentence than that, arguing the 49-year-old Whitfield “poses no risk of re-offending in any manner” and his “conviction in this case assures that Brian Whitfield will never again work in the financial industry in any meaningful capacity, nor hold a fiduciary position with clients.” Strianse on Monday requested a 10-year sentence.

Whitfield’s ex-wife, Marsha Whitfield, and his father-in-law and business partner Edwin Todd were also indicted. They both entered plea agreements to lesser charges and are awaiting sentencing later this month.

Read the whole story here.

More News