Friday, February 12, 2016

Palm Beach CEO sentenced to 42 months for stock scheme

Mr. Speight will trade this kind of life to prison life

According to the US Attorney's office in Brooklyn, NY, Cecil Franklin Speight of Florida was sentenced to 42 months imprisonment in his role of defrauding approximately 72 investors of 3.3 million dollars.  What does New York have to do with Florida? Some of his victims were from New York.

Instead doing what he was supposed to do, invest the money like he promised, he used the money as his personal piggy bank, living the high life at the expense of innocent investors. All of his illusory pleasure of fast cars and expensive wine will quickly vanish when he sits and sleeps on his bunk bed.

How much time will he have to serve? Approximately 36.75 months. If he gets into the RDAP program, he can get a year shaved off his sentence. If he ends up in the camp of Otisville, then he can get 9 months of halfway house /home confinement. His life style will drastically change and he will live a spartan life in  jail.

To see what else he can expect, go here... http://www.amazon.com/gp/product/B011GTWLOG
   

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