Ex-Thaxton Broker Pleads Guilty To Fraud

Law360, New York (June 18, 2007, 12:00 AM EDT) -- A former Thaxton Group broker has pled guilty to securities fraud, admitting that he played a role in the massive fraud that helped torpedo the high-risk lender into bankruptcy.

On Friday, James Garrett Jr. was ordered to spend the next eight years in prison, shortly after copping to eight counts of securities fraud, South Carolina Attorney General Henry McMaster said.

South Carolina Circuit Judge Daniel Pieper slapped Garrett with five years probation connected to each of the counts and ordered him to pay more than $75,000...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.