He also sentenced the former publicly held firm to five years of probation, according to a Reuters report. Lee pleaded guilty to his role in the scheme last September and is now serving his five-year prison term. Prosecutors, which Reuters has said referred to L&L as “a sham, wholly dominated and controlled by Lee to the detriment of shareholders,” previously claimed that Lee falsely reported the existence of a CFO in a U.S. Securities and Exchange Commission filing as part of an effort to get a stock exchange listing.
