Ex-SEC lawyer gets 8 years for pump-and-dump fraud
Headline Legal News | 2010/04/28 15:57

A former enforcement attorney for the Securities and Exchange Commission was sentenced Friday to eight years in prison for his role in a a series of multimillion dollar pump-and-dump stock fraud schemes.

Dallas-based attorney Phillip Offill Jr., 51, was convicted by a jury earlier this year on 10 counts of wire fraud and conspiracy. He testified that he was acting within the law, but the jury rejected his defense, and so too did U.S. District Judge Liam O'Grady.

"Your testimony ... was an affront to justice," O'Grady told Offill at Friday's sentencing hearing. "It was one of the biggest pack of lies I've ever heard."

Offill, who worked at the SEC for 15 years before taking a job at the Godwin Gruber law firm in Dallas, aided schemes that by conservative estimates cheated more than 1,500 investors out of at least $2.4 million. The fraudsters would pump up the value of dubious penny stocks and then sell the shares at inflated prices to unwitting buyers.

Eight other coconspirators have already been convicted and sentenced in a case that has been under investigation for more than three years. Most of the illegal transactions took place in 2004.

The eight-year term imposed on Offill was one of the most severe. Prosecutor Ed Power said the tougher sentence was deserved because Offill lied on the witness stand and because his status as a respected attorney helped provide cover for the fraud.



[PREV] [1] ..[1601][1602][1603][1604][1605][1606][1607][1608][1609].. [1967] [NEXT]
All
Headline Legal News
Legal Topics
Legal Business
Attorney News
Court News
Court Watch
Areas of Focus
Legal Interview
Opinions
Court makes no ruling in resolvin..
State appeals court reinstates Ca..
Kentucky high court: Death penalt..
NY high court nixes Trump's bid t..
Gamers in court for first time af..
Kansas court avoids ruling on exe..
Gamers in court for first time af..
MMA star Conor McGregor heads to ..
Kansas Supreme Court sends DNA re..
Court: Compliance reached in educ..
Seals can keep using San Diego ch..
Top Texas court says condemned in..
UK Supreme Court criticizes North..
Congressional Dems take Trump to ..
Detroit-area couple in court over..
High Court Rules in Dispute Over ..
Romania: Court tells president to..
Man run down, 50 years after kill..
Suspect in vandalism to Jewish bo..
The Latest: Colorado governor ann..




Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
China trademark registration lawyer
www.ctplo.com
Chicago Truck Drivers Lawyer
Chicago Workers' Comp Attorneys
www.krol-law.com
Downtown Manhattan Business Law Attorneys
Breach of Contract Lawyers
www.woodslaw.com
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Houston Estate Administration Lawyer
www.trishaenglishlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Law Firm Web Design Templates
Lawyer Website Templates
www.webpromo.com
   Legal Resource
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media.
 
 
 
Copyright © ClickTheLaw.com. All Rights Reserved. The content contained on the web site has been prepared by Click The Law. as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. By using the www.clickthelaw.com you agree to be bound by these Terms & Conditions.

Law Firm Website Design by Lawyer Website Design Blog - Lawyer Web Site Design That Works