Ex-IEA Chief Gets Up To 21 Years For $90M Fraud

Law360, New York (September 9, 2011, 3:23 PM EDT) -- A former CEO of antifreeze maker Industrial Enterprises of America Inc. was sentenced in New York on Friday to serve seven to 21 years in prison for participating in a pump-and-dump scheme involving more than $90 million worth of illegally issued securities.

In July, Cleveland attorney and corporate executive James Margulies was found guilty by a jury in New York Supreme Court in New York County of grand larceny, conspiracy, scheme to defraud, falsifying business records and violations of state securities fraud laws. He was ordered...
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