Entrepreneur pays $10 million fine, closes federal case

SARASOTA — Area businessman and entrepreneur Eric Baird, after a years-long federal investigation into alleged violations of U.S. export control laws, has been placed on two years probation, per terms of a plea agreement.

Government officials have also agreed to early termination of the probation, say Baird’s attorneys, in a statement. The settlement included a $10 million fine, which Baird paid, add the attorneys, Ronald Hanes, of  Trombley & Hanes in Tampa, and John Darden of Paul Hastings LLP in Washington D.C. “This is a large amount of money to pay, particularly for an individual,” the attorneys say in the statement. “But it was worth it to Mr. Baird to help bring this matter to a close.”