Securities fraud nets 5-year sentence
Securities fraud nets 5-year sentence
A Newbury Park man was given a 5-year sentence for a conviction on securities fraud charges. Rod Hormell also pleaded guilty to theft from an elder. The amount of the loss exceeded $100,000. He was also convicted on probation violations.

According to the indictment, Hormell stole an undisclosed amount from a senior citizen, after telling her that he would invest her funds in a fake business. That case resulted in Hormell’s initial conviction. A second victim came forward and said that Hormell had stolen more than $100,000 from her mother by claiming to invest the money in the same fraudulent business. He was ordered to pay $228,383 in restitution to the second victim. He had been ordered to pay restitution to the estate of the first victim under a separate court action.

Hormell has also received a lifetime censure from the insurance industry. His securities license was revoked following his first conviction.

A securities fraud lawyer you can trust


Securities fraud is normally prosecuted as a federal offense, but securities fraud is a violation of state law as well. Securities crimes can involve a number of different acts. Those acts include making investment trades using a client’s money without the client’s explicit permission; making risky or unsuitable investments without informing the client of the risks; making trades specifically to earn commissions; mismanaging investments; creating phony accounts; comingling clients’ funds with your own; operating a Ponzi scheme, using insider information to gain financial advantage and other similar investment-related crimes.

Financial crimes are complex. Often the nature and depth of a financial crime makes it difficult for ordinary people to understand. An effective defense must be prepared to educate the Court about the nature of the circumstances that led to the charges, and what a defendant’s actions really mean.

Robert Helfend is an experienced criminal defense attorney who practices in both state and federal courts. Mr. Helfend can assemble the experts you’ll need to testify on your behalf. As your securities fraud lawyer, Mr. Helfend will fight aggressively to defend you against securities fraud charges.

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: Jos van Galen, via FreeImages.com

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