Emanuel Pinez, the CEO of Centennial Technologies, was accused of securities fraud after artificially inflating the company's revenues and profits between 1994-1996. Pinez had reported $2 million in revenue and $12 million in profits for 1996, but the company actually lost $28 million that year. When the fraud was uncovered, Centennial's stock price plunged from $55 per share to less than $3, wiping out $150-376 million for over 20,000 investors. Pinez pleaded guilty and was sentenced to 5 years in prison and ordered to pay $150 million in restitution. Centennial Technologies was delisted from stock exchanges and struggled to recover from the scandal.