A Huntington Beach businessman is facing a maximum prison term of five years after pleading guilty this month to a federal prosecutor's charge that he conspired to dupe investors purchasing stock.
Todd Taylor, who worked at JAW & Associates, illegally manipulated stock activity in 2011 and 2012, and then advised an investor to purchase 45,000 shares in a company, according to a U.S. Department of Justice report.
Taylor, who didn't advise his victim of the commission he'd receive in the scam, knew the shares were essentially worthless.
He signed a guilty plea in hope for eventual leniency at his sentencing inside Orange County's Ronald Reagan Federal Courthouse.
According to DOJ, Taylor--who was born in 1966 and is free from custody--caused $167,974 in victim losses.
If you like this story, consider signing up for our email newsletters.
SHOW ME HOW
You have successfully signed up for your selected newsletter(s) - please keep an eye on your mailbox, we're movin' in!
In the government's case, officials mention two "co-conspirators," but only identify them with initials: J.W. and J.P.
A sentencing date has not yet been scheduled.