4th Circ. Affirms Ex-SEC Atty's Pump-And-Dump Sentence

Law360, New York (December 6, 2011, 8:13 PM EST) -- The Fourth Circuit on Tuesday affirmed a lower court’s eight-year prison sentence for a former U.S. Securities and Exchange Commission attorney convicted of designing a pump-and-dump scheme to sell securities at artificially boosted values and evade securities registration.

A three-judge panel rejected Phillip Offill’s claim that the Virginia federal court that sentenced him in April 2010 had wrongly admitted the opinion testimony of two experts because they had improperly given their opinions about the scope of certain legal standards, including the criteria for securities registration....
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