Former Refco CEO Philip R. Bennett is arguing that he be given a sentence similar to that meted out to former junk bond king Michael Milken rather than the “de facto life sentence” he claims the government is seeking.

If prosecutors have their way, Bennett, who pleaded guilty to accounting fraud that forced commodities brokerage Refco into bankruptcy just weeks after a successful initial public offering, will get a jail term more akin to the 25 years former WorldCom CEO Bernard Ebbers received.

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