Northern District Judge Charles Breyer.
For all the government’s bluster on stock-option backdating, the net result could be 60 days in a minimum security prison camp about an hour away from the sole convicted defendant’s house.
Ex-Brocade HR chief Stephanie Jensen came up for resentencing today. Jensen, you’ll remember, was convicted on a books and records count related to backdating. Her boss, former CEO Gregory Reyes, had his securities fraud convictions thrown out last year, and is headed for a retrial.
Still, a felony is a felony, and U.S. District Judge Charles Breyer of San Francisco gave Jensen four months the first time around. The Ninth Circuit reversed part of that sentencing calculation — but let her conviction stand — so Jensen and her lawyer, Keker & Van Nest partner Jan Little, appeared before Breyer once again. Little asked for zero time, while Assistant U.S. Attorney Adam Reeves urged Breyer to stick with four months.
Breyer, who is tough on white-collar sentencing, settled on two months, saying a message must be sent to corporate executives that they can’t roll over when asked to do something illegal. Little asked Breyer to recommend a halfway house, but the judge said no. Emphatically.
“I think that’s wrong in this case,” he said, adding: “I feel strongly that somebody who commits a white-collar offense, they go to jail.”
— Dan Levine