Securities Fraud Conviction In Penny Stocks Case
Securities Fraud Conviction In Penny Stocks Case
A federal judge found a San Diego man guilty of securities fraud last week. Adesh Kumar Tyagi must pay federal regulators nearly $300,000 after he admitted that he falsely inflated stock prices.

Tyagi said he used phony press releases and other tricks to inflate shares of Systems America, Inc. According to investigators, Tyagi bought shares in the company at the end of the day to drive up the stock’s opening price. He also failed to notify Securities and Exchange Commission investigators about his involvement in criminal cases in 2009.

He formerly worked at a San Diego financial consulting firm. Investigators found that Tyagi claimed that Systems America was much larger than it was. His claims induced investors to buy stocks in the company. Tyagi also hid information about a nearly $5 million embezzlement charge, and a Las Vegas lawsuit.

Tyagi is also the subject of a separate criminal securities fraud case, which remains open. In the civil matter, Tyagi must repay the money within 12 months to avoid further action. Additionally, he may not buy or sell penny stocks, or any securities in which he has a financial interest of greater than 10 percent.

California securities fraud attorney


Securities fraud convictions can have a lasting impact on financial professionals. When you’re facing federal securities charges, your first move should be to hire an experienced securities fraud attorney like Robert Helfend.

Mr. Helfend has more than 30 years of criminal defense experience and takes cases in both the federal and state courts. His first priority will be to get charges against you reduced or dropped. If that’s not possible, he will work aggressively to defend your freedom in court.

Don’t settle for an inexperienced or ineffective defense attorney. 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.

Photo Credit: slgckgc, via Flickr.com

Comments are closed.