Ex-Penny Stock Co. Prez Gets 18 Years For $18M Fraud

Law360, New York (April 23, 2014, 3:51 PM ET) -- The Sixth Circuit on Wednesday affirmed an 18-year prison sentence given to the ex-president of penny stock company Plasticon International Inc., saying the man convicted of bilking investors out of over $18 million failed to object to his sentence at trial.

In a unanimous opinion, Judge David McKeague said the trial court properly used sentence enhancements based on the number of victims James Turek harmed in his massive securities and tax fraud, despite Turek's arguments that trial testimony involved the number of accounts that lost money,...
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