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Criminal

Mar. 8, 2011

Helping Nonprofit Earned Karatz No Prison

Former KB Home CEO Bruce Karatz dodged a prison sentence on three felony fraud convictions after he pledged to help save a struggling nonprofit favored by the federal judge who sentenced him.


By Gabe Friedman


Daily Journal Staff Writer


LOS ANGELES - New details in the closed case of former KB Home CEO Bruce Karatz reveal the disgraced corporate executive dodged prison for his three felony fraud convictions partly on account of his $1.1 million pledge to a struggling Los Angeles charity favored by the federal judge who sentenced him.


Karatz is serving eight months home detention at his Bel-Air mansion and five years probation relate...

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