Securities Scam Artist Has Sentence Remanded

Law360, New York (March 14, 2007, 12:00 AM EDT) -- The Ninth Circuit has vacated and remanded the five-year jail sentence of a scam artist who pled guilty to a “pump and dump” securities scheme involving an energy company that supposedly made solar generators.

Marshall Zolp will receive new sentencing proceedings after the circuit court disagreed with the district court over whether New Energy Corp. stock was “worthless” following Zolp’s fraudulent scheme.

Zolp, who used several aliases, pled guilty to securities fraud charges in April 2005. He was accused of fraudulently inflating the value of public...
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