"Hannon faces up to five years in prison on the conspiracy to commit securities fraud charge. As part of the plea deal, he agreed to forfeit his claim on $8 million in back pay. Hannon also settled civil charges lodged by the Securities and Exchange Commission by turning over $2.2 million in assets and paying a $1 million penalty. The SEC barred Hannon from ever again serving as an officer or director of a public company."