The former Iconix CEO, who once oversaw a branding empire and was convicted last year, plans to appeal the sentence and will remain free on bail.
While Cole’s attorneys had asked for probation, U.S. Attorney Damian Williams pushed for a prison sentence of six-and-a-half to just over eight years, pointing in court filings to “the calculated, long-running and sophisticated nature of Cole’s fraudulent scheme” as well as “Cole’s abuse of his position of trust as the powerful CEO of a publicly traded, multibillion-dollar company.”
Seth Horowitz, former chief operating officer at Iconix, previously pled guilty for his involvement in the case and testified at Cole’s trial. Cole’s attorneys said the two transactions in question changed his life, in their own court filing on his behalf. “As he awaits the outcome of this sentencing, and the conclusion of his appeal, Neil has filled his days by helping his sons plan a new business venture, to replace the careers they lost as a result of his trial and conviction, and spending as much time with his family as he can, with the possibility looming that his time with them may soon be cut short,” his lawyers wrote.
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