The legal case concerning Insomniac CEO & Founder Pasquale Rotella and Reza Gerami, as per their involvement in allegations of embezzlement and bribery, has come to a decided close this afternoon after both parties accepted settlement deals.

According to the LA Times, Rotella “pleaded no contest Thursday afternoon to a single misdemeanor conflict-of-interest count and will be placed on three years of probation.”

Gary Jay Kaufman, Mr. Rotella’s attorney, issued the following statement in response to Thursday’s dismissal:

“I am so pleased that all of the charges in the grand jury indictment against Mr. Rotella have now been dismissed.  We have maintained from day one that Mr. Rotella is innocent, and today’s dismissal finally confirms this.  I am elated for Mr. Rotella and his family.”

Mr. Rotella issued his own statement as follows:

“I always knew the charges were politically motivated and publicity driven. While it’s taken too long to finally put this behind me, I can now focus my energy where it belongs: my family and my company.  Thank you to everyone who has supported me through this.”

Gerami will accept a similar deal on Friday, his lawyer, Larry M. Bakman, said.


via LA Times