$55M Fraudster Georgiou Denied New Trial

Law360, New York (March 21, 2011, 4:28 PM EDT) -- A Pennsylvania federal judge on Friday denied a bid for a new trial by convicted stock fraudster George Georgiou, sentenced to 25 years in prison and ordered to pay $55 million in restitution for his role in a conspiracy to manipulate stock prices.

Judge Robert F. Kelly of the U.S. District Court for the Eastern District of Pennsylvania denied Georgiou's motion on Friday.

In February 2010 a jury found Georgiou guilty of one count of conspiracy, four counts of securities fraud and four counts of wire...
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