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Texas Man Sentenced For Selling Unregistered Securities To Alabama Investor

Richard Waskom of McKinney, Texas pleaded guilty to one count of Sale of Unregistered Securities before Jefferson County, Alabama Circuit Court Judge Tommy Nail and was given probation for selling unregistered securities pertaining to a project to re-enter previously drilled oil wells. Waskom was sentenced, under a plea deal with prosecutors, to five years imprisonment. The sentence was suspended, and Waskom was allowed to return to Texas for his probationary period. A condition on that probationary period was verification that Waskom had paid $28,350 restitution in full to the Alabama victim. A Jefferson County Grand Jury had indicted Waskom in October 2011 on charges of violating Alabama securities laws. He was not, however, arrested until earlier this year. It is unknown whether the project behind the investment Waskom sold to the victim even exists. But according to the indictment, Waskom had failed to disclose that the requested money would be used for non-investment purposes. Waskom had approached the Alabama investor, [...]

By |October 30th, 2015|Press Releases & News|
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Mobile, Alabama Man Arrested For Alleged Securities Violations

Richard James Tucker of Mobile, Alabama was arrested last week by Baldwin County, Alabama Sheriff's Department deputies for alleged violations of the Alabama Securities Act. The arrest was subsequent to a June 2015 Baldwin County Grand Jury Indictment charging Tucker with three counts of Fraud in Connection with the Sale of Securities, including one count for each of the following: Conspiracy to Commit Securities Fraud; Employing a Device, Scheme or Artifice to Defraud; and Misrepresentation/Omitting to State a Material Fact. The charges are Class B felonies, punishable from two to twenty years in prison and up to a $30,000 fine per charge upon conviction. His bond was placed at $175,000. If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.

By |October 7th, 2015|Fraud, Press Releases & News|
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Ex-Cypress Creek CEO Pleads Guilty To Securities Fraud

James Albert Lawhorne, Jr., former CEO of Cypress Creek Organic Farms, Inc., pleaded guilty  in Huntsville before Madison County Circuit Judge James P. Smith to two counts of Securities Fraud relating to an investment scheme involving the company. In accordance with his plea agreement, Lawhorne admitted to each fraud count, Class B Felonies with a maximum sentence of twenty years in prison and a fine up to $30,000. In return for his guilty plea, the State asked the Court to impose a fifteen year sentence on each count, which will run concurrently. Lawhorne will also pay restitution of about $2.1 million to the victims and to be forced to give up money taken during his Florida arrest and from a bank account. Lawhorne owned Cypress Creek and served as its CEO. The company began in April 2013 with the purpose of recruiting people to grow organic tomatoes. In return for a $9,950 investment, the company would provide all of the [...]

By |August 19th, 2015|Fraud, Press Releases & News|
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Alabama Man Sentenced For Ponzi Scheme

Bryan Anderson, a former broker from Hoover, Alabama, was sentenced yesterday to seven years and three months in federal prison after pleading guilty to operating a Ponzi scheme that defrauded investors out of over $3 million. U.S. District Court Judge Virginia Hopkins also ordered Anderson to pay restitution of $3,068,614 plus interest to his victims. He will also serve three years on probation and was ordered to participate in an alcohol treatment program. Anderson pleaded guilty to wire fraud, money laundering, and securities fraud in March and will report to prison on October 19. In making her determination on the length of Anderson's sentence, Hopkins considered the length of time the scheme occurred, stating, "He had many opportunities to stop, but he continued down [that path]." The U.S. Attorney's office was pleased with Hopkins' sentence. "Brian Anderson ran a Ponzi scheme for years, lying about investment options, risks and potential returns to lure unwitting investors into his snare," U.S. Attorney Joyce [...]

By |August 14th, 2015|Fraud, Press Releases & News|
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