Former Craig CEO gets 8-year sentence
- Share via
The former chief executive of Craig Consumer Electronics Inc., a defunct wholesaler of car stereos and other consumer electronics, was sentenced to eight years and one month in prison for bank and securities fraud.
Richard I. Berger of Rolling Hills Estates was sentenced in 2004 to six months in prison -- which dismayed prosecutors, who said he deserved more time behind bars.
At the time, U.S. District Judge Robert Takasugi said he was constrained from giving Berger additional time for aggravating conduct because of recent rulings by the U.S. Supreme Court and the U.S. 9th Circuit Court of Appeals in San Francisco.
Three months earlier, the high court had invalidated Washington state’s sentencing guidelines law, declaring that juries -- not judges -- must decide all the factors that result in sentencing enhancements.
But the U.S. attorney in Los Angeles said Monday that based on changes to sentencing law, the 9th Circuit sent the case back to the trial judge for resentencing.
Berger was also ordered to pay $3.14 million in restitution to Craig Electronics’ banks. Craig filed for bankruptcy protection in 1997 and ceased operations.
Brad Brian, a lawyer for Berger, didn’t immediately return a call.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
