Former SEC Attorney Sentenced In 'Pump-And-Dump' Stock Fraud Scheme | WAMU 88.5 - American University Radio

: News

Filed Under:

Former SEC Attorney Sentenced In 'Pump-And-Dump' Stock Fraud Scheme

Play associated audio

By Meymo Lyons

A former enforcement attorney for the Securities and Exchange Commission will spend the next eight years in prison for his role in a 'pump-and-dump' stock fraud scheme.

Prosecutors at U.S. District Court in Alexandria allege that Dallas-based attorney Phillip Offill Jr. 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.

A jury convicted Offill earlier this year. Eight other co-conspirators have already been convicted and sentenced. Prosecutors wanted at least 14 years at Offill's sentencing Friday, but his defense argued that he should get three years; his attorney says they will appeal.

WAMU 88.5

Art Beat With Lauren Landau, May 27, 2015

Life is hard, confusing, funny and devastating. You can see two plays that focus on characters who are just trying to figure things out.

NPR

How Dorothea Lange Taught Us To See Hunger And Humanity

Perhaps no one did more to show us the human toll of the Great Depression than Lange, who was born on this day in 1895. Her photos of farm workers and others have become iconic of the era.
NPR

Santorum Hopes To Catch Lightning In A Bottle A Second Time

The former Pennsylvania senator, who won Iowa in 2012, hopes he can do it again. But with a more crowded field, he might find it difficult to stand out.
NPR

How Will The Next President Protect Our Digital Lives?

For the first time in a White House race, the candidates will need a game plan for cyber policy for Day 1 in the Oval Office and will have some tough choices to make.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.