Valentine Beauty Inc. (VLBI)

[cash4]

Former Boca Raton attorney permanently disbarred following securities fraud guilty plea

https://flarecord.com/stories/511871651-former-boca-raton-attorney-permanently-disbarred-following-securities-fraud-guilty-plea

By Karen Kidd | Mar 4, 2019

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Florida Supreme Court chamber in Tallahassee | Nagel Photography / Shutterstock.com
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TALLAHASSEE — Former Boca Raton attorney Mark Fisher has been voluntarily and permanently disbarred following a Feb. 7 Florida Supreme Court order after his guilty plea late last year to securities fraud, according to a recent announcement by the Florida Bar.

The state Supreme Court issued its two-page order of disciplinary revocation, tantamount to disbarment with leave to seek readmission after five years, after accepting Fisher's petition for disciplinary revocation.

The disbarment was effective immediately.

The Supreme Court also ordered Fisher to pay $1,250 in costs.

The state bar announced the discipline and the Supreme Court's order on Feb. 28.

Florida court orders are not final until time to file a rehearing motion expires. Filing such a motion does not alter the effective date of Fisher's suspension.

Fisher was admitted to the bar in Florida on Feb. 25, 2000, according to his profile at the state bar website. No prior discipline before the state bar is listed on Fisher's state bar profile.

In October, Fisher, then 53, and stock promoter Joseph F. Capuozzo, of Davie, were charged in connection with a $1 million pump-and-dump securities fraud scheme that involved shares of Sunrise-based beauty and health products firm Valentine Beauty, Inc., according to a U.S. Department of Justice press release. Fisher and Capuozzo were allegedly part of a larger group that distributed fake press releases about Valentine Beauty with the intent to imply the business was in better shape than it was.

When the stock price of Valentine Beauty subsequently rose, Fisher and Capuozzo sold their shares for $1 million, according to the press release.

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In December, Fisher and Capuozzo each pleaded guilty in federal court to single counts of conspiracy to commit securities fraud. The two are scheduled to be sentenced March 25. They could each face up five years in prison and a fine up to $250,000 or double the gross proceeds of their offenses, according to the Justice Department press release.