Mounir Gad, 36, of Los Gatos, will serve 15 months in prison, according to federal prosecutors.
SAN JOSE – A former Silicon Valley Bank executive will serve 15 months in prison for falsifying letters of reference to obtain a lighter sentence in a securities fraud case, federal prosecutors said.
Prosecutors said the 36-year-old Los Gatos resident pleaded guilty to the charges in October. In doing so, he acknowledged he previouslywith – and pleaded guilty to – securities fraud violations in connection with an insider trading scheme. Half of the letters, however, were not authentic. Prosecutors said Gad made changes to three of them without the knowledge or permission of their authors and submitted another three on behalf of individuals who had not written any letter of support.
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