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"He went away for stock fraud.
Steve Madden, who built a $240 million empire designing chunky shoes for teenagers, was sentenced yesterday to 41 months in prison for stock fraud and money laundering.
It's been a decade since Mr. Madden was famously sentenced to 41 months in prison for stock fraud (he served two and a half years) after a flameout fueled by drugs, alcohol and his love of money.
Among them were former Senator Bob Dole's political action committee, an Arkansas cotton gin owner who had been jailed for stock fraud, and R. J. Reynolds, the tobacco giant that had opposed the Clinton health plan.
The stockbroker serving up to 25 years in prison for plotting to kill a Manhattan judge received an additional sentence yesterday of three to nine years for stock fraud, the crime that originally landed him in jail.
A federal judge sentenced the former top executive of the once highflying Centennial Technologies Inc. to five years in prison today for stock fraud and ordered him to make restitution of almost $150 million.
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Ms. Stewart was not accused of stock fraud, but was prosecuted for lying about stock fraud.
This type of stock fraud is hardly victimless.
They face charges of stock fraud and manipulation, wire and mail fraud and money laundering.
"Recent changes in state laws concerning medical and recreational marijuana have created new opportunities for penny stock fraud," Elisha Frank, co-chair of the SEC Enforcement Division's Microcap Fraud Task Force, said in a statement.
The defendant, Stuart Winkler, is charged with ordering the execution of Justice Leslie Crocker Snyder in June as he waited in the Manhattan Detention Complex for his trial on stock fraud charges to begin.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com