March 22, 2010 – John Milne, the former president and chief financial officer of United Rentals Inc. (URI), has been sentenced to 27 months in prison for falsifying the company's records and books.
Senior U.S. District Judge Ellen Bree Burns has also ordered Milne to perform 200 hours of community service during the three years he will spend on probation following his release from prison.
Milne has also agreed to forfeit $6.25 million as settlement in civil suit brought against him by the U.S. Securities and Exchange Commission.
Assistant U.S. Attorneys Michael S. McGarry and Paul Murphy prosecuted Milne, claiming he hid payments made to settle a leaseback deal with Terex Corp.
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