Daws Gets Lighter Sentence In Elgindy Case

Law360, New York (August 16, 2006, 12:00 AM EDT) -- Hedge fund manager Jonathan Daws was given three years probation and a $50,000 fine on Wednesday for his role in a stock scheme to depress the price of penny stocks.

Daws managed a Dallas hedge fund called Gryphon Partners LP until late 2002. In 2003, he was charged and pleaded guilty to conspiracy to commit securities fraud for his part in the stock scheme.

Daws had originally agreed in his plea deal to imprisonment of 18 to 24 months. However, Daws’ lawyers argued in July that...
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