Former Rent Way executive Jeffrey Conway will reportedly keep his position with Ruth's Chris Steakhouse despite his conviction and upcoming jail term for defrauding investors.

Conway had been chief financial officer for the Metairie Louisiana based restaurant chain (the same position he held at Rent Way). He stepped down as CFO of Ruth's Chris to become an "independent consultant" after pleading guilty to conspiracy for his part in defrauding Rent Way investors.

In a statement published in the Times Picayune, Ruth's Chris company officials tout Conway as a trusted and valuable member of the team...

Statement form Ruth's Chris
Published in Times Picayune
"In his capacity as CFO and an independent consultant on a case-by-case basis, Mr. Conway has exhibited unquestioned leadership, knowledge and integrity," according to the statement from Ruth's.

"His vast wealth of industry experience and strong contributions are recognized as valuable assets to the (Ruth's) management team," the statement said. "(Ruth's) cannot comment on the current situation, but stands behind Mr. Conway and offers its support during this process."

As part of his plea agreement with prosecutors, Conway is barred from serving as an executive for any publicly held company, Ruth's Chris is private held and apparently has no issues with Conway's record.