Ex-Ore. Pol Gets 6 Years For $13M Social Media Stock Fraud

Law360, New York (December 16, 2013, 7:37 PM EST) -- A former candidate for Oregon's governorship was sentenced Monday to six years in prison for taking in more than $13 million from investors who thought he had access to the stock of Facebook Inc. and other social media companies ahead of their initial public offerings.

Craig L. Berkman, who unsuccessfully ran for the Republican gubernatorial nomination in Oregon’s 1994 race, was also sentenced to three years supervised release and ordered to forfeit $13.2 million. U.S. District Judge Shira Scheindlin imposed the sentence at a hearing in...
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