Former San Antonio-area stock broker and investment adviser Matthew A. Bell entered into a consent judgment to settle a civil lawsuit brought by the Securities and Exchange Commission. Pictured is the SEC’s seal on its headquarters building in Washington.A former San Antonio-area stock broker has been sanctioned by federal securities regulators for his role in a “pump and dump” scheme that defrauded investors.
pleading guilty to conspiracy to commit securities fraud and conspiracy to commit mail and wire fraud in 2014 Abraxas “A.J.” J. Discala, the ex-husband and money manager of “The Sopranos” actor Jamie-Lynn SiglerHe was sentenced to 11½ years in federal prison and ordered to turn over almost $2.5 million in late 2021
Shares issued to Discala, Bell and others for pennies were sold to Bell’s brokerage clients and others without the customers’ knowledge, prosecutors said. Bell also sold shares in his personal trading accounts at the same time he was purchasing the stock for his clients, prosecutors added.
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