Fla. Atty Charged With Laundering Stock Fraud Proceeds

Law360, New York (July 10, 2013, 5:29 PM EDT) -- A Florida litigation and bankruptcy attorney has been charged with illegally laundering more than $750,000 through escrow accounts as part of a penny stock fraud scheme, according to a criminal complaint unsealed Wednesday in New York federal court.

Michael J. Scaglione, a partner at Scaglione Law Firm PA in Coral Gables, Fla., allegedly exploited his position as an attorney to launder money through an escrow account for an undercover law enforcement agent who posed as a corrupt stock promoter, according to the complaint.

In his dealings with...
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