BUSINESS BRIEFING / COURTS
Times Wire Reports
A former vice president of Peregrine Systems Inc. who pleaded guilty in January to wire fraud was sentenced to 27 months in custody for his part in a scheme that destroyed the software maker once valued at $4.72 billion.
Jeremy Crook was the 14th person sentenced in connection with the scheme at Peregrine, U.S. Atty. Karen Hewitt in San Diego said. Prosecutors have charged 18 people in a multimillion-dollar accounting scam to falsely inflate profit and boost Peregrine’s stock that sent the San Diego company into bankruptcy in 2002.
