July 12, 2023

An attorney formerly employed at the SEC for over 14 years has been sentenced to 6 years in prison and ordered to pay almost $1.4 million in restitution for defrauding over 1,000 investors while on supervised release for an earlier offense. In 2010, after leaving the SEC, Phillip Offill of Texas was sentenced to 8 years in prison and 3 years of supervised release for participating in multimillion dollar pump-and-dump stock manipulation schemes.  In 2011, following a civil case brought by the SEC, he was permanently barred from participating in penny stock offerings.  In 2012, following another case by the SEC, he was permanently barred again.  Despite these obstacles, Offill still managed to conspire with others to misappropriate millions of shares of a publicly traded company and fraudulently market and pump up demand for the shares through false statements and documents.  DOJ

Tagged in: Financial and Investment Fraud,