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Elderly Win Stock Fraud Verdict on Appeal
By John Curran
 
While in many stock fraud lawsuits corporations are to blame, there are other people who are involved in bilking investors via other avenues. In one case, a California man pitched investment opportunities to elderly citizens and, following a failed appeal, could go to jail for decades.
The reason for the lengthy sentence is the number of counts filed against Jeffrey Gordon Butler with a total sentence of 90 years. Because so many of the plaintiffs involved in the stock fraud lawsuit against Butler were very old, their stock fraud lawsuit lawyers are the ones to see Butler brought to justice, as one out of every two victims died in recent years.
Butler had been offering securities based on real estate in California, but also sold living wills and trusts as well as annuities with the promise of double-digit returns on investment. Before the elderly investors realized that they were victims of securities fraud, many had seen their entire investment portfolios wiped out. In total, Butler had made $11 million before he was caught.
Part of the opportunity for him came from the types of options he provided, including many international firms. Without the aid of experience like that of a stock fraud lawsuit lawyer, many elderly people believed his claims that some had a near monopoly in their sector. In other cases, the district court of appeals noted that the company did not exist at all, except as a front for Butler and his cronies to receive checks.
The only way that Butler would have been able to succeed in fighting the claims of securities fraud lawsuit attorneys was on a technicality. His legal team argued that the jury in the original case was not properly advised on how to decide his fate. The appeals court decision noted that Butler’s awareness of whether or not the investments were securities did not count as a legal requirement according to California precedent.
Unfortunately for many, the jargon of investments has made it easy for people to casually suggest massive profits as Butler did. However, while he faced criminal charges, many people take advantage of securities fraud lawsuit attorneys. Connect with one by visiting the Securities Fraud, Stock Fraud Investment Class Action Lawsuit Investigation. A free consultation is as simple as filling out the short form there. Since many of these claims are grouped into class action cases, a rapid result is often possible.
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Updated January 1st, 2013Â
All securities fraud class action and lawsuit news updates are listed in the Stocks & Securities section of Top Class Actions
