Atherton man sentenced in fraud case Atherton man sentenced in fraud case (June 09, 2004)

Atherton resident Philip White, the former chief executive of Menlo Park software company Informix, was sentenced to two months in prison for lying about the company's income on a federal securities statement.

Mr. White, 61, pleaded guilty to signing and filing a form with the U.S. Securities and Exchange Commission in 1997 that exaggerated the company's 1996 income. He was sentenced in U.S. District Court by Judge Charles Breyer on May 26 and also was ordered to pay a $10,000 fine and provide 300 hours of community service after his release from prison.

Assistant U.S. Attorney Matthew Jacobs said Mr. White admitted during the guilty plea to knowing the financial statement was false and misleading.

Mr. White resigned from his position at Informix in 1997 after the company's board of directors discovered he had concealed two side agreements with customers. The agreements meant that several million dollars recorded as company revenue in 1996 were not actually paid that year and should not been considered revenue.

Bay City News Service

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