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HOUSTON (AP) - The former CEO of Seitel Inc. has been sentenced to more than five years in federal prison for cheating the seismic data company out of $750,000 that he used to settle a civil lawsuit filed by his former fiancee.
Paul Frame Jr., 59, was found guilty in April on five fraud counts of fraud, money laundering and a charge of making a false statement to the Securities and Exchange Commission. He faced up to 20 years in prison on the mail fraud count alone.
Frame made a tearful plea for leniency Thursday to the court, claiming that he had turned to Christianity and had been treated for alcoholism while awaiting sentencing, the Houston Chronicle reported in its Friday editions.
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