April 14, 2015 01:18 PM
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Mark Knight
Photo courtesy Lafayette Parish Sheriff's Office

Mark Knight, the disgraced former CEO of Knight Oil Tools who is accused of paying three co-conspirators to frame his brother Bryan in a 2014 drug bust, was booked into the Lafayette Parish Correctional Center Tuesday.

Bryan Knight
Mark Knight, who as of January was still chairman of Knight Oil Tools' board (the company has not responded to a request about whether he still holds the post), is facing a charge of racketeering that carries a sentence of up to 50 years and a fine that could climb to $1 million, District Attorney Keith Stutes tells The Independent.

Knight's bond was set at $100,000, and he bonded out of jail shortly after his booking.

The Lafayette Parish Sheriff's Office says Knight arrived with his attorney Mike Skinner at about 12:08 p.m.; Skinner is a former U.S. attorney for the Western District of Louisiana.

No additional information was provided.

Read more about the captivating case here.