Wednesday, February 25, 2009

Former Bear Stearns Executive Pleads to Fraud Charge:Operation Board Games

Bloomberg reports:
P. Nicholas Hurtgen, a former Bear Stearns Cos. managing director, pleaded guilty to a fraud charge for his role in helping two men advance a plot to win a Chicago- area hospital construction contract.

Hurtgen, 46, of Glencoe, Illinois, entered his plea to aiding and abetting wire fraud today before U.S. District Judge John Grady in federal court in Chicago. A trial had been set to start March 9. In exchange for Hurtgen’s cooperation, prosecutors agreed to ask for a 22 1/2-month sentence. Hurtgen can withdraw the plea if Grady hands out a longer term.
The Blago-Rezko-Illinois politics world.