Man Sentenced to 23 Years for Securities Fraud

The former owner of a company that falsely promised investors significant monetary returns has been sentenced to 23 years in prison by a federal court, months after he was convicted of securities fraud charges.

Thirty-seven-year-old Bradley C. Stark will also have to pay $13 million in restitution to the victims he defrauded as part of his securities fraud scheme. Running a company called Sardaukar Holdings out of his California home, he promised the investors he solicited monthly returns ranging from 20 to 30 percent through the management of “sophisticated financial transactions, including tri-party repurchase agreements, commodities futures and currency trading," prosecutors said, according to Courthouse News Service.

He also falsely touted a $50,000 insurance contract that investors could purchase.

In reality, Stark spent the investor money luxury cars, travel/entertainment, and jewelry, according to the FBI. He also transferred more than $1 million to his wife. He also never told investors that he had previously been convicted in April 2003 of related financial fraud charges.

Once his securities fraud scam was uncovered by the FBI, he was tried and successfully convicted of seven counts of wire fraud and one count of securities fraud.

If you or a loved one has been taken advantage of by a securities fraud scam, call Sokolove Law today to learn more about possibly pursuing a securities fraud lawsuit.

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