Dennis Luverne Desender, former acting CFO of Bixby EnergySystem, has been sentenced in federal court to 97 months in prisonfor lying to investors and failing to report his income on federaltax returns for three years. Desender was charged and pleadedguilty to both securities fraud and tax evasion in 2011.
Desender, 65, admitted in his plea agreement to providing falseinformation to investors in the Ramsey, Minn., company to convincethem to invest, in part by concealing the fact that the coalgasification energy system he was in charge of raising funds forwas not market-ready. His tax evasion cost the Internal RevenueService $825,866 in lost funds.
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