Ex-Investment Manager Dodges Prison For Stock, Tax Crimes
Law360, New York (May 4, 2020, 10:12 PM EDT) -- A New York federal judge on Monday declined to sentence a former investment manager with shuttered U.K. brokerage firm Beaufort Securities to prison for market manipulation and scheming to evade the Foreign Account Tax Compliance Act, citing reasons including the lack of actual loss in the case and the danger to inmates posed by the COVID-19 pandemic.
During a video conference, U.S. District Judge Kiyo Matsumoto sentenced U.K. resident Panayiotis "Peter" Kyriacou to three years probation, and fined him $5,400. Kyriacou last admitted to setting up brokerage accounts for an undercover law enforcement agent — who posed as a U.S. fraudster...
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