Gryphon Salesman Gets 2 Years Over $20M Fraud

Law360, New York (September 15, 2011, 4:24 PM EDT) -- A New York federal judge on Thursday sentenced a former Gryphon Holdings Inc. salesman to two years in prison for his role in a fraudulent investment advisory scheme that prosecutors said cost investors $20 million.

Baldwin Anderson, 57, said he was embarrassed by his actions and apologized to the scheme's victims at his sentencing hearing Tuesday, his attorney, Michael P. Padden, told Law360 on Thursday.

Anderson pled guilty June 14 to a single count of conspiracy to commit securities fraud. He was banned from the securities...
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