Former Duane Reade CEO Sentenced in Manhattan Federal Court to Three Years in Prison for Securities Fraud
PREET BHARARA, the United States Attorney for the Southern District of New York, announced that ANTHONY CUTI, the former chief executive officer (“CEO”), chairman of the board, and president of Duane Reade, Inc. (“Duane Reade”) was sentenced today in Manhattan federal court to three years in prison for perpetrating a scheme to falsely inflate the income and reduce the expenses that Duane Reade reported. CUTI was convicted in June 2010 after a two-month jury trial. U.S. District Judge DEBORAH A. BATTS imposed today’s sentence.