Prosecutors in Hartford, CT say that investor losses are approaching $9.5 million in a securities fraud case there. According to prosecutors, a Florida man used a series of shell companies to defraud investors from Los Angeles and other cities around the country.
The defendant, William Lieberman, issued worthless stock in the shell companies. A set of co-conspirators manipulated the price of the worthless stock to defraud thousands of investors. The scheme, which operated for about four years, earned Lieberman more than $1M.
In addition, Lieberman recruited a number of lawyers around the country to build investor confidence in the scheme. The participating attorneys issued statements certifying the strength of the shell companies, and assisted Lieberman in laundering the proceeds of the scam.
In addition to securities fraud charges, Lieberman also pleaded guilty to tax evasion. He faces as much as 14 years in prison, restitution of more than $10M and unpaid taxes of more than $400,000.
Los Angeles securities fraud lawyer
Securities fraud charges are serious. If you’re facing securities fraud charges, you need to work with an experienced securities fraud lawyer. Robert Helfend takes federal defense cases in Los Angeles and throughout the United States.
Federal prosecutions are long and involved. The conviction rate exceeds 90%, in part because many defendants choose to plead guilty. That doesn’t mean there’s nothing you can do if you’re facing federal securities fraud charges. It does mean that you need experienced counsel who can help you work through the complexities of a federal prosecution. You need an attorney who can ensure that you achieve the best possible outcome given your circumstances.
Don’t rely on an inexperienced attorney and don’t settle for an attorney who will not provide you with an aggressive defense. Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County securities fraud case.
Photo Credit: Jake Rustenhoven, via Flickr.com