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Non-Tech : Home Solutions of America (HSOA), The best is yet to come -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (20798)	11/16/2013 7:29:53 AM
From: Labrador	Read Replies (1) \| Respond to of 20808

He pleaded guilty yesterday. This is from the Tampa Bay Business Journal. Brian Marshall, founder and president of now-defunct Fireline Restoration in Tampa, pleaded guilty today to one count of securities fraud in Dallas federal court. His sentencing date has not been set. He faces a maximum penalty of 25 years in prison and a $250,000 fine. A grand jury indicted Marshall last year on two count of securities fraud, but one charge was dropped two days before his trial was scheduled to start, leading to speculation that a plea agreement in the case was possible. He has been out on bond since he was indicted in May 2012. His trail was scheduled to start this morning. Marshall is accused of bilking millions of dollars from investors by reporting fraudulent revenue, contracts and income for Fireline Restoration. The fictitious financials, which were referred to by a federal investigator as “a fantasy land of fraud,” resulted in bogus quarterly filings with the U.S. Securities and Exchange Commission from Home Solutions of America, a Dallas company that acquired Fireline. A Home Solutions vice president after the acquisition, Marshall operated Fireline as a Home Solutions main subsidiary. Many area subcontractors and other businesses have judgments against Fireline for failing to pay for work done for the company.