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Microcap & Penny Stocks : Cryogenic Solutions Inc. (CYGS)

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To: Hogger who wrote (3849)	11/10/1999 9:03:00 PM
From: Jeffrey S. Mitchell	Read Replies (2) of 4028

In case you might want the details... ----- Investor given 25 years for insurance fraud A Houston investor convicted of stealing money through an insurance investment scam was sentenced Thursday to 25 years in prison and was ordered to pay more than $1.7 million in restitution if he is paroled from prison. Bud Skillern was convicted by a jury June 24 and was sentenced Thursday by state District Judge Bob Jones. The trial was the first jury trial to come from a two-year investigation of statewide insurance fraud that has been spearheaded by the Travis County district attorney's office. Many other defendants have accepted plea bargains and paid restitution since the Texas Legislature in 1989 voted to help finance the Travis County investigation. "People are beginning to accept that stiff sentences for white collar crime is appropriate," said Kerrie Key, an assistant Travis County District Attorney. "That's been true in federal court, but this is the beginning in state court of a trend." Prosecutors said the Skillern case was a landmark in the ongoing insurance fraud investigation because it marked the first time a defendant had tried to convince a jury that the complicated allegations did not involve criminal activity. Copyright ¸ 1991, The Austin American-Statesman Jim Phillips, Investor given 25 years for insurance fraud., 08-30-1991.

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