February 12, 2016
Cecil F. Speight of West Palm Beach, Florida, was sentenced to 42 months in prison following a guilty plea to conspiracy to commit mail and securities fraud. Speight defrauded 72 investors out of more than $3 million operating an Internet stock scheme through his company International Stock Transfer (IST).
IST was founded by Speight in 2004 with offices in Palm Beach, Florida. Speight used cold callers and fake websites to entice victims into investing their money in allegedly high yield securities purportedly associated with IST. Investors were directed to wire funds into purportedly secure attorney escrow accounts. Once there, Speight typically stole the funds for his own use.
See Department of Justice press release for more.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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