IBJNews

Judge denies ex-Countrymark CEO’s release from prison

IBJ Staff
September 9, 2011
Back to TopCommentsE-mailPrintBookmark and Share

A federal judge has denied former Countrymark CEO David Swanson’s request to be let out of prison until an appeals court hears his case for early release later this month.

The 68-year-old former financial executive is serving a 12-year sentence stemming from his 2002 conviction for wire fraud, money laundering and tax evasion.

A federal appeals court in Chicago has agreed to hear his appeal claiming that his lawyers were derelict in not seeking a mistrial after the government presented its case.

Judge Sarah Evans Barker on Thursday denied his request for release, citing prosecutors’ concerns that Swanson is a flight risk.

“We simply are not convinced, given Swanson’s record, if given the opportunity to flee as opposed to returning to prison, that Swanson will obey this court’s orders,” she wrote.

A jury found Swanson guilty in October 2002 of stealing $2.7 million from Countrymark, an Indianapolis-based agricultural cooperative, in the 1990s.

He failed to appear for sentencing in January 2003 and was apprehended in Seattle about three weeks later.

Prosecutors also said in their arguments opposing Swanson’s motion to be released that the likelihood his appeal will be successful is “meager.”


 

ADVERTISEMENT

  • Finally a decision well deserved
    Thank you judge Barker for not allowing this crook back on the streets!

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
ADVERTISEMENT