New York (HedgeCo.net) – A former lawyer for the SEC was sentenced to two years of supervised release, Dow Jones reported. Robert L. Miller had plead guilty to conspiracy to commit wire and securities fraud late last year in connection with Marc Dreier, who was sentenced to 20 years in prison for selling $700 million in fake promissory notes.
“Miller pretended to be representatives from Canada’s Ontario Teachers’ Pension Plan and an Icelandic hedge fund in order to help Dreier sell a $44.7 million promissory note. Dreier paid Miller $100,000 for the impersonations, money Miller has already forfeited to the government.” The prosecution claimed, according to WSJ.
Although Miller faced up to 20 years in prison, U.S. District Judge Kimba M. Wood said, “(His) immediate acceptance of his crime and his assistance to the government had also been taken into consideration.” There were no fines.
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