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Ex-CEO sentenced for embezzling from company

Wednesday - 10/10/2012, 6:56pm  ET

BALTIMORE - The former CEO of a fast-food franchise who pleaded guilty to embezzling more than $885,000 from the company has been sentenced to two years in prison.

Fifty-six-year-old Mark Chandler Goodnow of Pasadena was also ordered to pay restitution of more than $885,000 at sentencing on Wednesday.

According to his plea agreement, Goodnow, who was president and CEO of a national fast-food franchise, spent the company's money on phone sex and prostitutes. Goodnow concealed the unauthorized expenditures by reporting them as advertising expenditures.

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