By Elizabeth Darst
Updated November 20, 2001 10:54 AM

SENTENCED: Italian financier Florio Fiorini, 60, was found guilty of fraud in the MGM collapse and was sentenced to 41 months in prison. The mogul and his business partner, Giancarlo Parretti, acquired the movie studio in the 1980s through sham deals and later looted the company, losing hundreds of millions of dollars for shareholders . . . SEALED: Adam Sandler will executive produce his first TV sitcom for NBC. The comedy, slated for fall 2002, will star SNL alums Jon Lovitz and Norm MacDonald and will be penned by SNL writer Tim Herlihy . . . CANCELED: The Sci-Fi Channel dropped “Invisible Man” after two seasons. Although the series started out with high ratings, it proved to be too expensive to produce for a cable network at $1 million an episode . . . DISPUTED: Melissa Gilbert, 37, took over as the 23rd president of the Screen Actors Guild on Monday. The former “Little House on the Prairie” actress beat out Valerie Harper for the position, although many voters are protesting the results, claiming election improprieties. In the wake of growing member dissatisfaction, SAG’s election committee is considering a re-vote . . . AWARDED: The International Documentary Association gave director Saira Shah its first Courage Under Fire Award for her film “Beneath the Veil,” a documentary which examines the treatment of Afghani women under the Taliban . . . GREENLIT: NBC has okayed a new sitcom called “Leap of Faith,” written and produced by Jenny Bicks, who won an Emmy for her work on HBO’s “Sex and the City.” The series, starring Gretchen Egolf (“Martial Law”), will premiere in March, 2002, following coverage of the Winter Olympic Games.