‘Third Time Is a Charm’: After Two Hung Juries, Credit Card Execs Take Plea Deal
Two former executives of a Virginia-based credit card processing company received 36 months of probation after pleading guilty to defrauding the city of Sherman. As part of the plea agreement, Edward Walsh Vaughan, the former president of Electronic Transactions Systems Corp., and Hadi Akkad, the company’s former executive vice president, will forfeit $5.3 million and $1.9 million, respectively.
“This is a rare case, very unusual,” said Fort Worth criminal defense attorney Jeff Kearney, who negotiated the plea agreement with Houston trial lawyer David Gerger. “I never thought this case would get resolved. [Gerger's] persistence and ingenuity got this settled.”