Brokers Get Jail Time In Smart Online Fraud Case

Law360, New York (December 11, 2009, 3:53 PM EST) -- Two brokers who were accused of accepting secret cash payments to induce their clients to purchase stock of Smart Online, a company that develops Internet-based software and data resources for small businesses, have been sentenced to several years in prison.

Anthony Martin and Alain Lustig were sentenced Thursday to 57 months and 28 months in prison, respectively, by Judge Denny Chin in the U.S. District Court for the Southern District of New York, the U.S. District Attorney's office said in a statement.

Lustig and another broker,...
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