Advertisement
 
YOU ARE HERE: LAT HomeCollectionsSentencing
(Page 2 of 2)

Reed Slatkin Given 14-Year Prison Term

The District Court ruling factors in the harm the former money manager caused bilked investors.

September 03, 2003|E. Scott Reckard | Times Staff Writer

Jacobs testified briefly Wednesday about a conversation in which Slatkin allegedly suggested he would try to blame the organization for his crimes. He told how Slatkin, saying he was facing more than 10 years in prison, "was going to say that the church was a significant negative influence on him in his state of mind."

Asked if Slatkin mentioned worrying about Scientologists harming him, Jacobs replied, "No."

Federal prisoners are eligible for release after serving 85% of their sentences. With that allowance and deducting time already served, Slatkin could be released in 10 1/2 years, when he is 64. He will remain for an undetermined time at Metropolitan Detention Center in downtown L.A., to more easily assist the bankruptcy trustee, and later will be transferred to a federal prison somewhere in Southern California, Morrow ruled.

She also entered an order requiring him to repay the $240 million in losses suffered by his victims.

"It's a huge sentence," said Olson, the prosecutor, characterizing it as far more severe than any handed down before the recent series of corporate scandals made financial fraud a top issue for the nation.

Advertisement
Los Angeles Times Articles
|
|
|