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By Newsradio 88 Staff
A 49-year-old IBM executive from Long Island has been sentenced to two-and-a-half to seven years in prison after admitting he solicited $280,000 from his family with the promise that he would invest their cash in an IBM stock plan for executives.
According to the Nassau County District Attorney, Mark Hoodack pleaded guilty to soliciting the money, then using it for his own purposes.
Several family members attended Hoodack's sentencing and asked the judge to impose the maximum sentence. In addition to the prison sentence, Hoodack was also ordered to pay $280,000 in restitution.