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Take-Two founder avoids jail sentence

Stock option monkey business lands former CEO Ryan Brant 5 years' probation

NEWS: 2 August 2007 9:43 GMT by Chris Ford

The former Take Two CEO has had a lucky escape after pleading guilty to first-degree felony charges that could have landed him in prison.

Ryan Brant was sentenced to 5 year’s probation for falsifying business records which was part of the Take Two stock option scandal.

Brant also agreed to pay $6.3 million to settle a suit against him and £1 million to the State of New York.

The story stems from 2006 when Brant left Take Two during the Securities and Exchange Commission investigation into the business. Shortly after, the remaining Take Two employees put all the blame on their former CEO following their own independent investigation.

Regardless, the Commission found a catalogue of wrong doing and suspicious behaviour, most noticeably that Brant gave himself and others stock, and then changed the records so that the stock would become instantly profitable.



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