NEW YORK CITY—The former CFO of American Realty Capital Properties, Brian Block, on Wednesday, was sentenced to 18 months in federal prison for overstating the company's financial results. Prosecutors say Block's fraud resulted in an intended overstatement of adjusted funds from operations by approximately $13 million in 2014.
Following a three-week trial, on June 30, a jury convicted Block of conspiracy to commit securities fraud, one count of securities fraud, two counts of making false filings with the SEC, and two counts of submitting false certifications along with required filings with the SEC.
Block's co-defendant, former ARCP chief accounting officer Lisa McAlister, pled guilty to securities fraud and related charges the day before Block's conviction.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
