Ex-AS Goldmen Broker Gets Six Months for Lying to Customers
New York, Feb. 13 (Bloomberg) -- A former broker at A.S. Goldmen & Co., a defunct securities firm, was sentenced to a six- month prison term today for lying to customers who bought shares of Millenium Sports Management Inc. from him.
Duane Taylor, 36, of Naples, Florida, will also have to serve five years' probation when he has completed his prison term, according to a spokeswoman for the Manhattan District Attorney's Office.
Taylor was convicted last June of securities fraud, after a two-week trial before State Supreme Court Justice Laura Drager. He was one of 36 Goldmen executives and employees who were indicted in 1998 and accused of participating in schemes that cost investors $100 million.
Taylor, who worked in the firm's Naples office, was convicted of defrauding an undercover investigator of more than $3,000. He is a former tow-truck driver and auto mechanic who cared for the luxury sports car collection of Goldmen's owner, Anthony Marchiano, before Marchiano hired him as a broker.
Millenium Sports had planned to develop a spectator arena for golf tournaments in Naples. The brainchild of ESPN founder Bill Rasmussen, the arena was never built. Taylor was convicted of lying about the company's finances.
Six of the firm's high-ranking officers, including Marchiano, are currently on trial on similar charges in state court in Manhattan. That trial, which began last week, is expected to last three or four months.
Feb/13/2001 18:35 ET
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