A former Teamsters union boss who was once one of the most powerful labor leaders in Chicago was sentenced Wednesday to 19 months in federal prison for extorting $325,000 from the head of a film studio in the city.
The sentence comes more than three years after John Coli Sr. pleaded guilty to extortion, faced with secret recordings made by Cinespace Chicago Film Studios President Alex Pissios in which Coli could be heard threatening a union strike if Pissios didn't pay him.
In one tape, Coli tells Pissios that he would have union workers walking a picket line that would shut the studio down "within an hour" if he didn't continue making the secret payments.
Prosecutors agreed to dismiss several counts against the 63-year-old Coli in exchange for his guilty plea to receiving prohibited payments as a union official and making a false income tax return.
In exchange, Coli agreed to cooperate with federal investigators and that cooperation helped build an extortion case that landed former state Sen. Thomas Cullerton in prison this year. Cullerton pleaded guilty to embezzlement charges for improperly taking more than $248,000 from the Teamsters.
Ubisoft shares jump following reports of Tencent, Guillemot family considering buyout
Shares of Ubisoft jumped more than 30% Friday, following reports that Tencent and the Guillemot family are considering a buyout of the video game maker.
Bloomberg news reported that Tencent and Guillemot family — minority stakeholders in Ubisoft — have been discussing ways to stabilize the company after it lost more than half its market value this year. Shares surged 33.5% to about $15.57 Friday, according to FactSet.
Ubisoft declined to comment. Tencent did not immediately respond to a request for comment.
France-based Ubisoft is the publisher behind the well-known franchise "Assassin's Creed." Ubisoft's shares fell last month to their lowest point in more than a decade after its latest title "Star Wars Outlaws" underperformed and the company announced that it would delay the latest "Assassin's Creed" game.
Yves Guillemot, Ubisoft's CEO, said in a statement last week that the company's "second quarter performance fell short of our expectations."
Read More