Update
11-28-03

According to an AP report, Matthew W. Marini, former chief accounting officer and controller of Rent-Way was sentenced Wednesday to three months in federal prison for his role in a securities fraud scheme.

Prosecutors reportedly requested a lighter sentence for Marini due to his cooperation with the investigation. His sentence also includes three months on home confinement, two years of probation and 50 hours of community service.

11-26-03
The Associated Press is reporting that former president and CFO of Rent Way, Jeffrey Conway, was sentenced to more than 13 months in prison and fined $20,000 for his role in doctoring reports filed with the SEC.

According to the report, the SEC ordered Mr. Conway to surrender his CPA license, forbade him from holding another executive position and fined him nearly $360,000.

The judge in the case reportedly cited Conway's "willful blindness" as cause for the harsher sentence in spite of letters of support the judge received from former Rent-Way employees.