Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly

Rubin CEO Pleads Guilty to Securities Fraud

  Securities  -   POSTED: 2007/03/29 16:47

The chief executive of investment bank Rubin Investment Group pleaded guilty to securities fraud in connection with the acquisition and sale of shares of small-cap companies, U.S. prosecutors said on Thursday.

Dan Rubin, who was also the CEO of attorney referral service 1-800-ATTORNEY Inc., agreed to forfeit $2 million and pleaded guilty in a federal court on Wednesday, making it the final plea by the senior management of the investment bank that once had offices in Los Angeles, Manhattan and Florida, the U.S. Attorney's Office in Brooklyn said in a statement.

Three other former employees of the firm have already pleaded guilty to securities and conspiracy charges. Each defendant faces a maximum sentence of 25 years, prosecutors said.

Under Rubin's direction, a group of employees at 1-800-ATTORNEY induced several companies, or their big shareholders, to sell large blocks of stock to Rubin Investment Group at discounted prices, the prosecutors said.


After acquiring stock from dozens of small-cap public companies, Rubin sold the stock in the open market at a substantial profit, while simultaneously driving down the price of the stock, prosecutors said.

The fraudulent acquisition and sale of shares occurred between August 2002 and October 2003, prosecutors said.

Rubin admitted that he told his staff to promise the small-cap companies that he would recommend their stock to Rubin Investment Group's investors and that he would not sell their stock in the open market, prosecutors said.

"The defendants profited by victimizing small, publicly-held companies and the investing public," U.S. Attorney Roslynn Mauskopf said.


Legal News | Breaking News | Terms & Conditions | Privacy

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. Affordable law firm web design company
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
Family Law in East Greenwich, RI
Divorce Lawyer, Erica S. Janton
www.jantonfamilylaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Chicago, Naperville IL Workers' Compensation Lawyers
Chicago Workplace Injury Attorneys
www.krol-law.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Los Angeles Immigration Documents Service
New Vision Immigration
www.immigrationnew.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Korean Web Agency
  Law Firm Directory