Convicted Ex-Rite Aid CEO Seeks Shorter Sentence

Camp Hill, Pa., Former Rite Aid Corp. CEO Martin L. Grass has appealed to a federal judge to reduce his sentence for his role in the financial deception that caused the retailer to overstate its earnings by more than $1.6 billion.

Grass was given an eight-year jail sentence in June 2003 after pleading guilty to defraud and obstruct justice. Grass is seeking a reduction of his term to four years and nine months on the grounds that his crimes weren’t for personal gain, the cost of his crimes was overblown and that other similar defendants have received lighter sentences.

Grass is scheduled to be revaluated on Aug. 11. He is currently incarcerated in a Florida prison.