Gryphon Prez Says Scheme Merits Less Than 9 Years

Law360, New York (August 2, 2011, 6:41 PM EDT) -- The former president of Gryphon Holdings Inc. on Tuesday asked a New York federal judge to sentence him to less than nine years in prison for giving investors phony stock tips, while prosecutors are pushing for a sentence of 11 to 14 years.

In April, Kenneth Marsh, 44, pled guilty to one count of securities fraud. While Marsh and prosecutors agree on the general circumstances of his scheme, they disagree on loss causation, a significant factor in sentencing.

Prosecutors say his fraud cost investors between $7...
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