03.11.2010

Executive gets three years

Michael J. Nolan the former chief financial officer of United Rentals has been sentenced to three years’ probation and must pay restitution of nearly $1.2 million

The sentence follows his guilty plea in 2007 for making false filings with regulators that inflated United’s results and reportedly allowed him to make an $11 million profit.

Nolan left United in 2002 and was replaced by John Milne who received a prison sentence for his part in the chain of events that led to the company restating its results and paying substantial fines.
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