Two co-founders of a Broadway theater company that produced hit shows such as "Ragtime" and "Show Boat" were convicted Wednesday of accounting fraud for overstating their business' finances by millions of dollars for several years.
Garth Drabinsky and Myron Gottlieb, co-founders of Livent, a major Broadway theater company in the 1990s, were convicted of two counts of fraud and one count of forgery. They each face a maximum of 14 years in prison.
In the 85-page ruling, the judge said the Tony award-winning producers knowingly submitted financial statements to investors misrepresenting their company's circumstances.
The …
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