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twitterEx-CEO sentenced to 8 years
Thursday, May 27, 2004 | 10:49 a.m.
HARRISBURG, Pa. -- Former Rite Aid Corp. chief executive Martin L. Grass was sentenced to eight years in prison today for conspiring to falsely inflate the value of the company his father founded and cover up the scheme.
Grass, 50, who headed up the nation's third-largest pharmacy chain in the late 1990s before being forced out in October 1999, also was fined $500,000 and given three years' probation for his role in a billion-dollar accounting fraud that sent the company's stock tumbling.
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