Richard Nelson, the former general counsel of Peregrine Systems, has been sentenced to one day in custody and six months of home detention for his role in an alleged accounting fraud at the company. The National Law Journal reports that Nelson also was ordered to pay a $20,000 fine and provide 200 hours of community service. He has already served his one day in custody.
The NLJ reports that Nelson pleaded guilty in January to one count of bank fraud, and admitted that he failed to provide adequate information in order to obtain a $150 million bank loan for the company.
