Thayer Enters Prison to Serve 4-Year Term
Former Deputy Defense Secretary W. Paul Thayer checked into a minimum-security federal prison Monday to serve a four-year sentence for obstruction of justice, a prison spokeswoman said.
Thayer, former chairman of LTV Corp., entered the prison through a back door to avoid a crowd of reporters at the front gate.
Former Dallas stockbroker Billy Bob Harris had checked into the prison about three hours earlier.
A federal judge in Washington sentenced the two men to four years in prison and fined them $5,000 each after they pleaded guilty to obstructing justice.
They admitted giving false statements to the Securities and Exchange Commission when it investigated an insider trading scheme involving them.
Inmates at the prison live in cells “sort of like a motel room,” and the prison has tennis courts, exercise equipment and Jaycees and Toastmasters clubs, a spokesman said.
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