The former CEO of SAExploration Holdings Inc. was sentenced Monday to three years in prison for his role orchestrating a scheme that fraudulently inflated the company’s revenue by $100 million.
Jeffrey Hastings, who faced up to 10 years in prison, pleaded guilty in August to charges of conspiracy to commit securities fraud and conspiracy to commit wire fraud. Federal prosecutors in New York didn’t suggest a specific prison term, but told U.S. District Judge Gregory Woods that they would accept a shorter sentence, according to court documents.
Woods also sentenced Hastings to two years of supervised release and ...
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