Former Take-Two officers plead guilty

Company's top lawyer and accounting officer admit falsifying business records related to ongoing stock option scandal.

Former Take-Two CEO and founder Ryan Brant is no longer the only officer of the company to offer a guilty plea to charges stemming from the company's stock options scandal, according to a Bloomberg report. The company's former general counsel Kenneth Selterman and former chief accounting officer Patti Tay both plead guilty to falsifying business records.

While the charges Tay and Selterman plead guilty to were both misdemeanors, they are expected to be sentenced to more than just probation next month. Prosecutors expect Tay to be made to reimburse $300,000 to Take-Two when she is sentenced next month, Bloomberg reports. Selterman is expected to be sentenced to 200 hours of community service and a $50,000 fine (he already repaid the company "several hundred thousand dollars" before making his plea, according to the article).

30 Comments

  • KingKoop

    Posted Jul 23, 2007 6:23 am PT

    That's pretty disgusting I mean TT are a reputable company, these should be locked up good and proper. I suppose there's satisfaction in knowing that they'll probably be picking up sh*t for a living for the rest of their days

  • Crystall3d

    Posted Jul 22, 2007 6:55 am PT

    let them show case WII games on streeets as a community service . ha ha

  • TwistedMinds

    Posted Jul 21, 2007 3:56 am PT

    Well, even though they aren't going to do much jail time, they still got what they deserved. $300, 000 is one hefty fine, and I doubt a guy like Selterman is pleased with the idea of picking up trash for 200 hours.

  • ketsuatama

    Posted Jul 21, 2007 1:47 am PT

    Another case of certain sections of the judicial system looking after the interests of commercial scum!

  • Pete5506

    Posted Jul 20, 2007 9:27 pm PT

    that is not that bad, should be more

  • DJSMITH007

    Posted Jul 20, 2007 7:16 pm PT

    I hate community service...should have never been "invented"

  • comthitnuong

    Posted Jul 20, 2007 3:35 pm PT

    200 hours of community service. Damn. I hope the money that Take Two gets will help them get back on their feet.

  • OfficialBed

    Posted Jul 20, 2007 3:34 pm PT

    *sigh

  • Nharia12

    Posted Jul 20, 2007 3:01 pm PT

    Remember kids, if you want to do a major crime but just get a slap on the wrist when caught, look towards doing white-collar crimes.

  • Lee_Stricklin

    Posted Jul 20, 2007 1:49 pm PT

    Like Thornscar said they just made numbers look better, which is only illegal if you get caught.

  • HALOISTHEBEST26

    Posted Jul 20, 2007 1:48 pm PT

    man what pisses me off is that all of these people will walk away without a slap on the back but if it was any average person they will see major jail time

  • steven141

    Posted Jul 20, 2007 1:44 pm PT

    The justice system over there just doesn't apply to people that are rich/famous

  • rokkuman09

    Posted Jul 20, 2007 1:44 pm PT

    Ouchy, they deserved it though.

  • prostar343

    Posted Jul 20, 2007 12:52 pm PT

    Pays to be wealthy.

  • darkchaostitan

    Posted Jul 20, 2007 12:52 pm PT

    Misdemmeanors?! Just Probation?! Want is wrong with them, they should be put in jail for a year, that just isn't possible today for people like them. And wow a take-2 scandel, this is just amazing from the publisher who mad the darkness and bully.

  • gamenux

    Posted Jul 20, 2007 12:45 pm PT

    They will not see much jail time cause that's how screw up the system is.

  • bigpimppapa

    Posted Jul 20, 2007 12:39 pm PT

    BUSTED now put them in jail better yet prison

  • GrayHalo

    Posted Jul 20, 2007 12:37 pm PT

    they should have pleaded 'no contest'

  • uberjannie

    Posted Jul 20, 2007 12:33 pm PT

    I dont like lawyers

  • flynsk

    Posted Jul 20, 2007 11:55 am PT

    Filthy Scums. They should have to go battle royal with the stock holders.

  • Thornscar

    Posted Jul 20, 2007 11:53 am PT

    This was a small crime for a company, Martha Stewarts crime involved getting insider info. Take-Twos was about making the numbers look better. Probably something that a lot of companys do but only some get caught. The got what they deserve with a minimal sentence.

  • raedman

    Posted Jul 20, 2007 11:49 am PT

    LOL!

  • clearwaterslick

    Posted Jul 20, 2007 11:48 am PT

    you think that they got off easy??? HA they had the fines and 200 hours of community service not including a conviction on their record. You're also forgetting about the massive amount of attorney fees that they had to pay. ($300 per hour I'm guessing.) Yes the maximum for the crime is much higher than what they got but nobody gets the max., especially execs. with clean records. Let's face it, if this case went to trial there is no way in hell that 12 people who are too stupid to get out of jury duty would understand what these guys were charged with let alone convict on it. Try explaining "back dating options" to a bunch of low income earners and old people who barely understand how to use email. Point is, murder and drugs are easy to explain to stupid people so jurys can convict and Defendants serve time. White-collar crime is too complex for a jury to understand and therefore they get off easy

  • AceCometh

    Posted Jul 20, 2007 11:43 am PT

    No jail time? Even Martha Stewart had jail time! No surprise though. The top dogs at Take-Two are always in trouble for something. Now they're pulling a 'Wal-Mart' by stealing money from the people who work for them. Typical.

  • rahstar

    Posted Jul 20, 2007 11:37 am PT

    WOW, rich people can steal hundreds of thousands of dollars and put co-workers pension and 401k at risk and get off with community service. I really hate the law sometimes.

  • RaiKageRyu

    Posted Jul 20, 2007 11:03 am PT

    Got off lucky eh?

  • aplay-may-cry

    Posted Jul 20, 2007 10:57 am PT

    200 hours of community several wooooo!!
    The system doesn't work.

  • StanleyL GameSpot staff member

    Posted Jul 20, 2007 10:56 am PT

    Michael Bolton: We get caught laundering money, we're not going to white-collar resort prison. No, no, no. We're going to federal POUND ME IN THE ASS prison.
    Samir: I don't want to go to ANY prison!

  • Duo75

    Posted Jul 20, 2007 10:55 am PT

    Proof that 9/10 times money = corruption.

  • VegetaMaelstrom

    Posted Jul 20, 2007 10:53 am PT

    How about some jail time for these crooks!?! A slap on the wrist like probation doesn't effectively deter these white-collar bandits but I'll bet jail time will make them change their ways. Just look at Paris Hilton. She kept on driving drunk over and over while on probation and it wasn't until she got sent up to the big-house that she made me believe she just might not do it again.

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