CINCINNATI (AP) — The former head of an Ohio computer sales company sentenced to one week in prison for inflating stock prices and losing investors millions could now face a sentence of up to 10 years — the result of a federal appeals court ruling that his first prison term was "drastically" light.
Michael Peppel, 44, is set to be resentenced in federal court in Cincinnati on Tuesday or Wednesday, depending on how long arguments from attorneys on both sides last.
Federal Judge Sandra Beckwith, who sentenced Peppel to one week in prison in October 2011 because he was "a remarkably good man," is the same judge who will sentence Peppel anew this week.
Prosecutors had recommended that Peppel get between eight and 10 years in prison and appealed Beckwith's original sentence to the 6th U.S. Circuit Court of Appeals, which ruled in February that Beckwith had abused her discretion by reducing his sentence by 99.9 percent, saying it was unreasonably short.
The court agreed with prosecutors that Peppel should face between eight and 10 years in prison, and sent the case back to Beckwith.
