$LEAS CEO SENTENCED TO 7 YEARS IN PRISON FOR STOCK
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Posted On: 10/18/2018 12:12:10 PM
$LEAS CEO SENTENCED TO 7 YEARS IN PRISON FOR STOCK FRAUD.
Boca Raton resident sentenced to 7 years in prison for stock fraud
Judge Jeffrey A. Meyer
William Lieberman
By Brian Bandell – Senior Reporter, South Florida Business Journal
Jul 13, 2018, 3:03pm
Boca Raton resident William Lieberman was sentenced to seven years in federal prison for leading a “pump and dump” penny stock fraud, according to prosecutors.
Lieberman, 42, pleaded guilty in May 2017 to conspiracy to commit mail and wire fraud and tax evasion. He was sentenced to prison and ordered to pay both $5.3 million in restitution to victims and $436,235 to the IRS on Friday by U.S. District Judge Jeffrey A. Meyer in New Haven, Connecticut.
According to prosecutors, Lieberman held CEO and other executive positions with penny stock companies Mammoth Energy Group, Strategic Asset Leasing, Fox Petroleum and Trilliant Exploration Corp. Lieberman issued false and misleading statements about the financial health and prospects of these companies, in addition to Terra Energy Resources, Hermes Jets/Continental Beverage Brands Corp. and Dolat Ventures, according to prosecutors.
Prosecutors said Lieberman caused about $19 million in losses for more than 12,000 investors from 2011 to 2015. Lieberman earned nearly $1.2 million through his scheme and failed to report this income to the IRS, prosecutors said.
Two attorneys were also indicted for participating with Lieberman in the scheme by allegedly signing false and misleading opinion letters about the stocks.
Lieberman is scheduled to report to prison Aug. 13.
https://www.bizjournals.com/southflorida/news...rison.html
Boca Raton resident sentenced to 7 years in prison for stock fraud
Judge Jeffrey A. Meyer
William Lieberman
By Brian Bandell – Senior Reporter, South Florida Business Journal
Jul 13, 2018, 3:03pm
Boca Raton resident William Lieberman was sentenced to seven years in federal prison for leading a “pump and dump” penny stock fraud, according to prosecutors.
Lieberman, 42, pleaded guilty in May 2017 to conspiracy to commit mail and wire fraud and tax evasion. He was sentenced to prison and ordered to pay both $5.3 million in restitution to victims and $436,235 to the IRS on Friday by U.S. District Judge Jeffrey A. Meyer in New Haven, Connecticut.
According to prosecutors, Lieberman held CEO and other executive positions with penny stock companies Mammoth Energy Group, Strategic Asset Leasing, Fox Petroleum and Trilliant Exploration Corp. Lieberman issued false and misleading statements about the financial health and prospects of these companies, in addition to Terra Energy Resources, Hermes Jets/Continental Beverage Brands Corp. and Dolat Ventures, according to prosecutors.
Prosecutors said Lieberman caused about $19 million in losses for more than 12,000 investors from 2011 to 2015. Lieberman earned nearly $1.2 million through his scheme and failed to report this income to the IRS, prosecutors said.
Two attorneys were also indicted for participating with Lieberman in the scheme by allegedly signing false and misleading opinion letters about the stocks.
Lieberman is scheduled to report to prison Aug. 13.
https://www.bizjournals.com/southflorida/news...rison.html
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