A former Dallas Securities and Exchange Commission lawyer who went to prison a decade ago in a penny stock scam is being accused of a repeat offense in an...
Phillip Offill Jr. faced similar charges in 2010, when he was sentenced to eight years in federal prison.
The SEC filed a civil complaint Wednesday that alleged Phillip W. Offill Jr. of Dallas, the former trial lawyer for the regulatory agency, and Justin W. Herman of Canonsburg, Pa., misappropriated and sold millions of shares in Mansfield-Martin Exploration Mining Inc., an Arizona precious metals mining company., when he was sentenced to eight years in federal prison on charges that included conspiracy to commit securities registration violations, securities fraud and wire fraud.
Over the next year, Offill and Herman fabricated documents and transactions that resulted in millions of shares being sold on the market with the profits split between them, according to the SEC. The controlling shareholder, who works in Dallas but wasn’t identified in the complaint, never authorized the sale.
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