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Former FTE Networks chief executive sentenced to prison in US for accounting fraud

( September 25, 2025, 19:55 GMT | Official Statement) -- MLex Summary: Michael Palleschi, the former chairman and chief executive of FTE Networks, was sentenced to 12 years in prison for leading a years-long scheme to inflate the telecommunications company's revenue, conceal liabilities and expenses, and embezzle funds. He pleaded guilty in August 2023 to conspiring to commit securities and wire fraud, making false statements in SEC filings and improperly influencing the conduct of audits, securities fraud, wire fraud and aggravated identity theft.Statement follows below:...

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