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Ex-CEO sentenced for embezzling from company

Wednesday - 10/10/2012, 6:56pm  ET

BALTIMORE - The former CEO of a fast-food franchise who pleaded guilty to embezzling more than $885,000 from the company has been sentenced to two years in prison.

Fifty-six-year-old Mark Chandler Goodnow of Pasadena was also ordered to pay restitution of more than $885,000 at sentencing on Wednesday.

According to his plea agreement, Goodnow, who was president and CEO of a national fast-food franchise, spent the company's money on phone sex and prostitutes. Goodnow concealed the unauthorized expenditures by reporting them as advertising expenditures.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)