Former Kmart CEO must pay more than $10M for misleading investors

02/26/2010 | New York Times (tiered subscription model), The

A U.S. judge ordered Charles Conaway, former CEO of Kmart, to pay more than $10 million for misleading investors about the company's finances before its 2002 bankruptcy. Conaway was fined $2.5 million and ordered to repay a $5 million loan and about $2.7 million in interest. Conaway's lawyer said his client plans to appeal the verdict and penalty.

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