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1st Circ. Upholds Calif. Atty's Pump-And-Dump Conviction

Law360, San Jose (October 6, 2017, 4:16 PM EDT) -- The First Circuit on Friday upheld a California lawyer’s conviction over a $3 million stock pump-and-dump, upholding the denial of his acquittal motion and saying that even if under his “novel theory” co-conspirators could sell unregistered stock, he still told “admitted lies” that enabled fraud.

In a 15-page opinion, the three-judge panel backed the jury verdict against attorney Richard Weed, who was convicted last year in Massachusetts federal court for his part in a scheme that allowed two former stockbrokers to obtain free stock in a...
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