Duane Reade Ex-CEO Sentenced

Former Duane Reade CEO Anthony Cuti was found guilty of five criminal charges, including conspiracy and securities fraud, and received a three-year sentence to prison. Cuti and former CFO Willam Tennant (also convicted of securities fraud) had been charged with inflating company income with fraudulent real-estate transactions and fictitious credits. Tennant is scheduled for sentencing on August 29, 2011.