The US Attorney for the Southern District of New York, Damian Williams, has announced that Neil Cole, the founder and former CEO of Iconix Brand Group, has been sentenced in Manhattan federal court to 18 months in prison “for participating in a scheme to fraudulently inflate Iconix’s revenue and earnings per share, making false filings with the US Securities and Exchange Commission (SEC), and misleading the conduct of audits.” The sentence was announced on Oct. 10. A jury found Cole guilty in November 2022 following a four-week trial, which led to the recent sentence. In addition to his prison term, Cole was ordered to pay forfeiture of $790,200 and sentenced to three years of supervised release. Cole plans to appeal the sentence and will remain free on bail.
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