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Reuters reports that Anthony Cuti, the former CEO of Duane Reade, “has been sentenced to three years in prison for exaggerating the chain's income;” prosecutors said that Cuti “inflated income from fraudulent real estate transactions and made it appear that expenses were decreasing from 2000 to 2005 to inflate income.”

In addition to the prison sentence, which will commence in January, Cuti also was ordered to pay a $5 million fine.

Duane Reade has since been acquired by Walgreen.
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