The founder of Take2 Interactive has been found guilty of backdating share options by a US court.
Ryan Bryant, who is also former CEO of the company, was ordered to pay $6.3 million (£3.2 million) to resolve a civil case related to the matter, and a further $1m (£550,000) to "settle criminal charges", according to Digital Music News .
He was also banned from occupying a high-level executive position at a publicly-traded company. "I accept responsibility for my actions, and apologise to the company's shareholders," said Brant.
It seems that Brant is not the only one being investigated for backdating share option grants. Apple Inc boss Steve Jobs is also at the centre of a similar enquiry regarding the alleged backdating of grants to Pixar executive John Lasseter.
Government investigators are questioning a 'golden hello' of backdated share options made to Lasseter when he joined Pixar in March 2001. He is alleged to have profited to the tune of $6.4 million because of the deal. Steve Jobs was CEO of Pixar at the time the deal was done.