Securities fraud convict also faces civil suit
Securities fraud convict also faces civil suit
The Securities and Exchange Commission sued a California man who pled guilty to securities fraud in 2016. The SEC suit seeks to recover nearly $300,000 that the agency says he gained illegally.

According to the SEC, Adesh Kumar Tyagi, CEO of Systems America, Inc., falsely inflated the value of his company’s stock. He also provided false disclosure information to improve the company’s rating on an online trading site. As part of the scheme, Tyagi created and released false press releases through PR Newswire. He also made numerous purchases and sales of the company stock to increase its price.

The company traded its stock on the over-the-counter market beginning in 2010. Tyagi founded the company in 1994, but converted it into a publicly traded shell company in 2010. The SEC seeks not only to recover the money Tyagi made on the trades, but also seeks punitive damages. The agency also wants to bar Tyagi from operating as a director or officer in future business endeavors. It also wants to prevent Tyagi from offering penny stocks in the future. Tyagi will receive his federal criminal sentence in January 2018

California securities fraud lawyer

This case illustrates the dangers of a securities fraud case. The government can pursue both criminal and civil cases for the same events. Because securities fraud charges are so serious, you need to hire an experienced securities fraud lawyer to defend you.

A securities fraud conviction can result in a prison term, significant fines, restitution, forfeiture and other consequences. A securities fraud conviction can also result in the loss of professional credentials you need to work in the industry. Following a conviction, you’re likely to be prevented – at least for a period of time – from working in the industry. Depending on the circumstances of your case, you can receive permanent professional sanctions.

Sanctions like these can follow you long after you complete a prison sentence. An experienced, aggressive criminal defense attorney can help reduce or eliminate charges against you. Reducing the severity of the charges against you may also reduce the severity of professional sanctions that accompany a conviction.

The federal government doesn’t rely on inexperienced prosecutors to try your case. You shouldn’t rely on an inexperienced attorney to defend you in court!

Contact Robert Helfend or call toll-free at (800) 834-6434, (805) 273-5611, (310) 456-3317 or (818) 591-2809 for an immediate consultation on your Ventura County securities fraud case.

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