The Dayton Daily News in Ohio reported that Ira H. Stanley, former CFO of MCSi, pleaded guilty to three felony counts for his alleged involvement in a scheme to boost the company stock price. According to the report, the charges were “conspiracy to commit mail fraud, wire fraud and securities fraud, one count of mail fraud, and one count of false certification of a financial report by a corporate officer.”
The newspaper indicated that he will be sentenced Oct. 15 and he could face a maximum of 45 years in prison and $5.5 million in fines. Or, somewhere around six years, if his attorney’s estimates are correct, or if Stanley cooperates in the investigation.
The newspaper reported that MCSi’s former chief executive officer, Michael E. Peppel, was indicted on 26 counts in December and the case is still pending.