Ex-Sky Capital Executive Gets 30 Months Prison for Scam
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The former chief operating officer of Sky Capital LLC, a brokerage firm raided by federal agents probing a $140 million fraud, was sentenced to 30 months in prison after prosecutors rebuffed his bid to cooperate.
Stephen Shea, 42, who pleaded guilty in 2011 to conspiracy and securities fraud, asked U.S. District Judge Paul Crotty in New York for five years of probation instead of prison time, citing his attempt to aid authorities. The judge refused.