The statement you make has NO proof. The charges are listed and also in AN SEC official filing. You don't get charged and convicted without any reason. Without sufficient evidence charges and a court date are tough to get. Charged and then released without a trial is different. If Kay got some changes in an appeal maybe but there is no proof. Also He has other charges and personal financial issues listed here on the board. So please do not make it sound like he was at the wrong place at the wrong time.
He did the wrong thing and got caught. If he slipped later on some technicality which there is no proof of doesn't mean he wasn't doing things that weren't illegal.
Al of these items go to character or lack there of in this case.