He was found guilty of commercial bribery, fined $500 and given a six-month suspended sentence.
"But we do believe that there has been commercial bribery and lax procedures which can put us in danger in our public lives."
They found him not guilty of commercial bribery and violation of a deceptive-trade law.
One common type of commercial bribery is the kickback.
New York's law against commercial bribery is contained in Article 180 of the state's penal code.
The charges include conspiracy, commercial bribery, money laundering and fraud.
The prosecutor general also indicated 10,315 cases of commercial bribery committed by government officials were investigated.
In 1962, Freed pleaded guilty to two charges of commercial bribery, for which he received a fine and a suspended sentence.
But a legislative decision was made to impose the controls, and that has created an attendant problem of commercial bribery.
At the time of this payment, commercial bribery was not a crime in Switzerland.