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Ex-CEO Sentenced For Embezzling From Company

BALTIMORE (AP) — The former CEO of a fast-food franchise who pleaded guilty to embezzling more than $885,000 from the company has been sentenced to two years in prison.

Mark Chandler Goodnow, 56, of Pasadena was also ordered to pay restitution of more than $885,000 at sentencing on Wednesday.

According to his plea agreement, Goodnow, who was president and CEO of a national fast-food franchise, spent the company’s money on phone sex and prostitutes.

Goodnow concealed the unauthorized expenditures by reporting them as advertising expenditures.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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