Attorney Acquitted, CEO Convicted In $300,000,000 Stock Fraud Trial (United States District Court Eastern District of New York, USA v. Discala et al (1:14-cr-00399)), Opinion by ARNOLD F. SOCK, Attorney at Law
A New York jury on Friday (USA v. Discala et al 1:14-cr-00399) issued a split verdict in a trial over a multifaceted $300,000,000 market manipulation scheme, clearing Las Vegas attorney Kyleen Cane of any wrongdoing, but convicting former financial services firm OmniView Capital Advisors LLC CEO Abraxas J. Discala on fraud and conspiracy charges.
A jury in Brooklyn acquitted Kyleen Cane of securities fraud and two counts of conspiracy, but found Abraxas Discala guilty of securities fraud, wire fraud, and conspiracy. It is clear the jury thought that either there was not enough proof to convict the attorney, or that the attorney's action did not rise to the leverl were they could convict.
Opinion by ARNOLD F. SOCK, Attorney at Law