The former president of billionaire-owned Starkey Hearing Technologies, Jerry Ruzicka, was sentenced inside a Minneapolis courthouse Wednesday to seven years in prison. It was the culmination of a saga that transpired over more than three years at America’s largest hearing aid manufacturer and was chronicled in a story published in Forbes earlier this year. The court will also issue Ruzicka a restitution order, according to a statement from the U.S. attorney's office. It lasted six weeks, and in March Ruzicka and Taylor were convicted on charges of fraud, while the jury acquitted Hagen and Miller. Privately held Starkey does not disclose its revenues, but earlier this year Forbes estimated that Starkey had annual sales of some $850 million.

Source: Forbes December 19, 2018 20:48 UTC