While on his way to the clink, IT consultancy big cheese will cough up that $2.9m he embezzled

The former CEO of IT consultancy firm Quandrant 4 has agreed to pay back the $2.9m he embezzled from the now-bankrupt business, in a deal [PDF] that finally closes the book on a long-running case. Nandu Thondavadi signed an agreement this month with America's financial watchdog, the SEC, before he takes a trip to prison for a …

[Fatman]

"Permanent Bar" as officer?

Doers that stop him from being one in a privately held company? Probably not.

[Intractable Potsherd]

Shell companies

Is there any valid reason for shell companies to exist? Their sole purpose seems to be to obscure oversight and defraud people and governments.

[Mike Moyle]

Re: Shell companies

You appear to have answered your own question.

[swm]

On the other hand, someone who embezzles $50,000 dollars spends much more time in jail.

[T. USA]

Check out his daughter.