NY Man Gets 2 Years For Role In Boiler Room Scheme

Law360, New York (October 25, 2011, 7:07 PM EDT) -- A Long Island, N.Y., man who collaborated with an alleged $12 million stock-promoting boiler room scheme that involved a purported ex-U.S. Securities and Exchange Commission staffer was sentenced to 27 months in prison Thursday.

U.S. District Judge Thomas P. Griesa also ordered defendant Christopher Savino to serve two years probation after his release and pay $300,000 in restitution for defrauding investors with the help of a New York office known as Powercom Energy Services Corp. and Empire Energy Services Corp.

Prosecutors say Powercom/Empire was a bull...
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