01.07.09

Penny stock pump & dumper gets jail time

Posted in All Categories at 12:35 pm by Michael Goode

Normally the SEC likes to just slap these people on the wrists. It is nice to see someone get a sentence of 57 months in prison for pumping a stock while falsely saying he owned no shares.

From the litigation release:

The sentence ordered Sayre to serve 57 months in prison to be followed by three years of supervised release. The sentence reflects a sentencing enhancement because the Court found that Sayre obstructed justice by lying under oath to the Commission during its investigation.

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