We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Ex-Cocoa Trading Co. Exec Gets 3 Months For $352M Fraud

Law360, New York (September 21, 2018, 7:28 PM EDT) -- U.S. District Judge Jed S. Rakoff on Friday hit a former Transmar Commodity Group Ltd. finance executive with a three-month sentence for his role in a $352 million fraud that bankrupted the cocoa trader and damaged banks, crediting his effort to cooperate but saying the size of the caper required a prison term.

Sixty-year-old Thomas Reich of Brooklyn has admitted to a count of conspiring with the company's father-and-son principals, Peter G. Johnson and Peter B. Johnson, while working as vice president of finance at Transmar and would have have cooperated against the Johnsons had the criminal case gone to trial. ...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!





Judge Analytics