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Former Boeing CFO Sentenced to Four Months in Jail

by Freddie Mooche

Hotel Booking Michael Sears, former Boeing CFO, was sentenced to four months in jail for his role in illegally recruiting a top U.S. Air Force official.

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As CFO of The Mark Travel Corporation, a $1.5 billion travel package provider with multiple travel businesses and a travel technology company, Trisept Solutions, Hyland implemented its first integrated planning process (strategic and financial). Prior to his position at Mark Travel, Hyland was the CFO for Galileo Americas, the global distribution system owned by the Cendant Corporation. While at Galileo, he improved profit per employee by 56% and was honored as one of Cendant Travel Distribution Services employees of the year.

Flight Booking Feb 19, 2005 (AXcess News) Chicago - Michael Sears, former Boeing Co. (NYSE: BA) CFO, was sentenced to four months in jail for his role in illegally recruiting a top U.S. Air Force official. Then Boeing CFO, Sears, was also fined $250,000.

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Travel Agent November 15, 2004 Boeing CFO, Sears, pled guilty to aiding and abetting a conflict-of-interest violation in offering Darlene Druyun, who was the Air Force's No. 2 weapons buyer, a job. Druyun was sentenced to nine-months in jail for meeting with Sears to negotiate a $250,000 a year job with Boeing while still overseeing Boeing deals worth billions with the Air Force.The Boeing company still faces penalties for its role in the conflict-of-interest scheme. Analysts believe Boeing could face fines in excess of $100 million. Advertisement

- Groople, the online leader in group travel planning, tapped Shannon Hyland, former CFO of The Mark Travel Corporation, as its new Chief Financial Officer. Hyland has 15 years of experience managing finances and operations for major travel industry organizations.

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