A story that we posted on our Web site yesterday about Alfred Teo Sr. is quickly shooting up to the top of our "most forwarded" stories list. The story: Teo was sentenced yesterday to 30 months in prison, plus a $1 million fine, for securities fraud and insider trading. He had pleaded guilty to the charges in June. Teo is very well known in the plastics industry (although the charges did not involve his company, film extruder Sigma Plastics Group). No doubt a lot of competitors, suppliers and customers are keeping a close eye on the case. But the impact on the plastics side seems minimal: Sigma has had plenty of time to prepare for the transition. Watch for our updated story on the sentencing later this week. We'll give more details on plastics industry reaction to the news, including comments from processors who wrote letters to the court on Teo's behalf. In the meantime, here's a story from the Newark, N.J., Star-Ledger (headline: "Self-made millionaire gets prison") that makes for interesting reading.
Keeping an eye on Teo
Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]
The only North American conference targeting plastics caps and closures makers, the Plastics Caps & Closures conference, held Sept. 9-11, 2019, in Chicago, provides a hotbed of discussion on many of the top innovations, process and product technologies, materials, trends and consumer insights that influence both packaging and caps and closures development.