Brant reportedly cut a deal with investigators after pleading guilty to falsifying business records in February. Offering to cooperate with an investigation of backdating, Brant avoided a more severe sentence that could have included jail time.

Brant's attorney Lawrence Iason did not comment on the possibility that Brant's cooperation may have lead to the conviction of former Take-Two executives Patti Tay and Kenneth Selterman. The two are expected to serve similar sentences of probation after pleading guilty to falsifying business records.

"I'm deeply sorry for my role as an executive in the company and my role in the options dating process," Brant told the New York State Supreme Court, according to Bloomberg.

A graduate of the Wharton School of the University of Pennsylvania, Brant founded Take-Two at the age of 21. After the company went public in 1997, Brant participated in the artificial inflation of options given to executives by issuing grants on days when company stock was at a low price.