A California stock broker will spend 27 months in prison for securities fraud. Songkram Roy Sahachaisere operated what investigators described as a classic pump-and-dump penny stock fraud. A jury convicted Sahachaisere in late 2015. A total of nine defendants, including a Canadian citizen, have pleaded guilty in the case.
The case represents one of the largest penny-stock investigations conducted by the Federal Bureau of Investigation. The probe spanned several years and involved authorities from Canada, Great Britain, Thailand and China. Investors from about three dozen countries fell victim to the fraud.
Sahachaisere and others sought to inflate the price of penny stocks fraudulently. When the value of the stocks reached $100M, the conspirators dumped billions of shares. Sahachaisere promoted the worthless securities. Other participants wrote and published false press releases to inflate the stocks’ values.
Ventura securities fraud lawyer
When you face securities fraud charges, hire an experienced securities fraud lawyer like Robert Helfend. Mr. Helfend has more than 30 years of experience in courtroom criminal defense. He takes federal criminal cases in any federal circuit in the United States. He also takes state court cases in Southern California.
Federal prosecutors are well funded, and they only take cases into court that they think they can win. As a result, they boast a high conviction rate. As a federal defendant, that should scare you, but it doesn’t mean there’s nothing you can do. Your first step should be to hire an experienced federal criminal defense lawyer.
Having the right lawyer by your side in court can make a huge difference in the outcome of your case. Don’t rely on an inexperienced attorney, and don’t assume that you’ll be convicted.
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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