A Westport man will have to serve additional jail time for failing to pay $5.25 million as part of a settlement with the U.S. Securities and Exchange Commission (SEC). 
John N. Milne: violated SEC settlement. File photo
Chief U.S. District Judge Janet C. Hall in New Haven today sentenced John N. Milne, 58, to 24 months of imprisonment for violating the conditions of his supervised release, the U.S. Attorney’s Office said.
According to court documents and statements made in court, on March 11, 2010, Milne was sentenced to 27 months of imprisonment, followed by three years of supervised release, for conspiring to falsify the books and records of Greenwich-based United Rentals, Inc. while he served as its president and chief financial officer.
In a resolution of a separate civil action brought by the SEC, Milne agreed to pay $6.25 million. He paid $1 million to the SEC prior to his sentencing in 2010.
As part of his original sentence, in lieu of a restitution order, he was ordered to pay the remaining $5.25 million to the SEC as a condition of his supervised release, the U.S. Attorney’s Office said.
Since his release from prison in May 2012, Milne has paid approximately $500,000 of the $5.25 million that was due.
“Chief Judge Hall found that, based on Milne’s income and expenditures on luxury services, personal items and travel, he had the ability to pay much more,” a news release said.
It said the court had previously continued the hearing on multiple occasions to provide Milne the opportunity to make additional payments, but he repeatedly failed to do so.
Milne also violated his supervised release by traveling out of Connecticut without the permission of the U.S. Probation Office, prosecutors said.
It said Milne is citizen of Canada and a lawful U.S. permanent resident.
