PRESIDENT BIDEN COMMUTES SENTENCE OF LENATURE CEO

The former chairman and CEO of now-defunct LeNature beverage company sentenced to 20 years in federal prison in 2011 for his role in a multi-million dollar fraud scheme had his sentence commuted by President Joe Biden.  The Trib reports that Gregory Podlucky pleaded guilty about 13 years ago to swindling the company’s investors out of more than $629 million. Podlucky siphoned $37 million in loans that he spent on cars, precious gems, jewelry and toy trains. Podlucky, three other LeNature executives, a former employee and a business associate were indicted by a grand jury in 2009 on charges of bank, wire and mail fraud. Podlucky was indicted for tax fraud and money laundering.