- Associated Press - Friday, May 1, 2015

CHARLOTTE, N.C. (AP) - A judge in Charlotte has sentenced a former executive with Beazer Homes USA to 10 years in prison for his role in an accounting scheme at the Atlanta homebuilding company.

U.S. District Judge Robert Conrad handed down the sentence for 52-year-old Michael Rand of Sandy Springs, Georgia, after a daylong hearing Thursday.

The Charlotte Observer reports (https://bit.ly/1EIjAG8 ) prosecutors had recommended a sentence of 15 years or less. Rand’s attorney requested a five-year sentence.

Rand was convicted last year of securities fraud and other charges stemming from what prosecutors said was a seven-year conspiracy.

He was accused of manipulating earnings reports to mislead investors and regulators. He also was accused of lying to company auditors and federal investigators.

U.S. Attorney Kurt Meyers called Rand’s misconduct “pervasive” and “long-lasting.”


Information from: The Charlotte Observer, https://www.charlotteobserver.com

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