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Lawyer convicted of Ponzi scheme charges
By Times Staff Writer
Published December 16, 2005
TAMPA - A Clearwater lawyer was convicted Thursday of money laundering, securities and mail fraud in federal court.
Gregory Schultz faces a maximum of 10 years in prison on the worst of the charges and up to a $250,000 fine.
Schultz, who is licensed to practice law in Florida and Michigan, was one seven indicted in 2002 on money laundering and and securities fraud charges.
The group was accused of orchestrating a $18.4-million Ponzi scheme from 1996 to 2000, in which they sold unregistered securities to cheat hundreds of investors.
[Last modified December 16, 2005, 00:53:08]
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