Jan. 28, 2008 / 2:21 PM

Financial officer sentence to six months

NEW YORK, Jan. 28 (UPI) -- A federal judge in New York on Monday sentenced a former chief financial officer at Belcamp's SafeNet, Inc., to six months in prison.

U.S. District Judge Jed S. Rakoff ordered former SafeNet executive Carole D. Argo to report to a federal minimum-security prison West Virginia, on March 25. She was also ordered to pay $1 million in fines, the Baltimore Sun reported.

Argo pleaded guilty in October to taking part in a scheme to record options that made them appear as if they had been issued when stocks were trading at a low prices. She faced eight to 10 years in prison for her participation in the fraud, which allegedly was committed at the request of the company's chief executive officer.

The scheme cost shareholders millions, the report said.

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Jed S. Rakoff

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