Eldorado Exploration Inc (fka EDEP)

[luckyhoosier]

A jury convicted Mr. Laurance of two counts of securities fraud in violation of 18 U.S.C. 1001, two counts of mail fraud in violation of 18 U.S.C. 1341, one count of interstate transportation of money or property obtained by fraud in violation of 18 U.S.C. 2314, and two counts of engaging in monetary transactions in criminally derived property, a violation of 18 U.S.C.1957(a). At sentencing, the government asked the district court to enhance Mr. Laurance's sentence for being a leader, organizer, manager, or supervisor pursuant to USSG 3B1.1(c). The district court agreed, enhanced Mr. Laurance's sentence, and stated:

What the evidence clearly did show was that this was a scheme to defraud, actually several schemes involving different issues of securities, these penny stocks which were fraudulent in their purpose, and many people were involved in it. Some of them actually may have had criminal knowledge and didn't get charged. It's hard to say. Some of them may have been innocent dupes, as Mr. Fimberg has suggested.

http://law.justia.com/cases/federal/appellate-courts/F3/43/1484/553000/