Ex-Conversion Solutions Officer Gets 23 Years in Prison
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Three former officers of Conversion Solutions Holdings Corp., based in Kennesaw, Georgia, were sentenced to prison terms as long as 23 years and ordered to make restitution of $44 million for running a so-called stock pump and dump scheme, the Justice Department said.
“These significant sentences reflect the seriousness of the massive fraud these defendants committed against numerous victims who invested in the defendants’ company,” Sally Q. Yates, U.S. Attorney in Atlanta, said in a statement. “While the defendants got rich, victims lost millions.”