Local & Regional
10:22 am
Sun October 31, 2010

Stock Sentence

Tulsa, OK – 2 Tulsa men sentenced in stock manipulation scheme

TULSA, Okla. (AP) Two Tulsa men have received prison sentences for their roles in what prosecutors called a $43 million pump-and-dump stock manipulation scheme.

U.S. District Judge James Payne on Friday sentenced 48-year-old securities attorney G. David Gordon to a 15-year, eight-month prison term and 62-year-old stock broker Richard Clark to a 12-year, seven-month term. Both men also must forfeit more than $43 million.

Gordon was found guilty of one count of conspiracy to commit wire fraud, securities fraud and money laundering, nine counts of wire fraud, five counts of securities fraud, five counts of money laundering and one count of making a false statement to the U.S. Securities and Exchange Commission.

Clark was found guilty of one count of conspiracy, seven counts of wire fraud, five counts of security fraud and one count of money laundering.