Saturday, October 3, 2009

Did the crime, doing the time

Perhaps a rash of these are due to help as a deterrent to others.

Stockbroker sent to prison for 1.4 million scheme
By Craig Kapitan - Express-News

A former San Antonio stockbroker accused of swindling $1.4 million from investors was handed two, 57-month sentences Friday despite vows to pay back twice what he stole.

Bruce E. Hammonds, 50, will begin serving the concurrent sentences on securities and wire fraud violations in January. Prosecutors recommended the punishment as part of a plea agreement.

Hammonds also was ordered to pay back about $1.1 million to former employer Merrill Lynch and almost $60,000 to two clients he continued to defraud after he was fired from the brokerage firm in June 2008.

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