Fla. man to face NY judge in Facebook share case

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 12/16/2013 10:13 am

NEW YORK (AP) — A Florida investment adviser and onetime Oregon political candidate is facing prison for a $13 million securities fraud scheme.

Federal prosecutors in Manhattan say Craig L. Berkman of Odessa, Fla., capitalized on enthusiasm for shares of Facebook and other Internet companies about to go public.

Berkman is expected to be sentenced late Monday afternoon.

He pleaded guilty in June to securities fraud and wire fraud.

He has agreed to serve between eight and 10 years in prison. Otherwise, he could have faced up to 40 years in prison.

Berkman was a candidate for Oregon governor in 1994. He served as Oregon's state Republican party chairman from 1989 to 1993.

 

©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share
0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!
NEWSCASTS ON DEMAND

What's On

All content © Copyright 2013 Intermountain West Communications Company. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
You may also view our Sitemap

Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.