Plasticon Prez Convicted Of $18M Penny Stock Fraud

Law360, New York (June 25, 2012, 5:27 PM ET) -- A Kentucky federal jury on Friday convicted the ex-president of penny stock company Plasticon International Inc. of securities fraud for bilking thousands of investors across the country out of over $18 million.

After a two-week trial, James Norman Turek, 66, was convicted of eight counts of securities fraud and five counts of tax fraud.

Turek was taken into custody after U.S. District Judge Jennifer B. Coffman found that he was a flight risk. His sentencing is scheduled for Sept. 27 and he faces a maximum sentence...
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