Peregrine VP Gets 27 Months in Prison

SAN DIEGO (CN) - A former vice president of Peregrine Systems was sentenced to 27 months in federal prison for wire fraud. Jeremy Reeve Cook, of the United Kingdom, admitted he schemed with Peregrine's CEO, CFO and others to juggle the books to meet Wall Street expectations, then dumped his own Peregrine shares for $1.1 million when the stock rose on the false financial news.

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