The former chief executive officer of email security company GigaTrust was sentenced to five years in prison for fabrications that allowed him and two other executives to defraud investors and lenders of millions.

From 2016 until GigaTrust filed for bankruptcy in November 2019, CEO Robert Bernardi schemed with former Chief Financial Officer Nihat Cardak and former Vice President for Business Development Sunil Chandra to mislead investors and banks into believing the company was financially healthy, the DOJ stated in a press release Tuesday.

Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government. Email: adrianne.appel@complianceweek.com LinkedIn:...