Huff's defense team offered up the restitution fund at the last minute to knock some time off his sentence. The prosecutor polled the four investors present. I think I was the only one that voted against it as my losses were only around $5K and I was willing to lose that to see him do a little extra time.
Law360, New York (February 16, 2012, 6:04 PM ET) -- A Florida federal judge recommended Thursday that jailed former GlobeTel Communications Corp. CEO Timothy Huff pay a $1.2 million civil penalty and disgorge $1.5 million for his role in the telecommunications company's revenue inflation scheme. U.S. Magistrate Judge Ted E. Bandstra said in a report and recommendation that Huff’s criminal conviction did not preclude the U.S. Securities and Exchange Commission’s bid for a civil fine. Huff was sentenced July 25 to over four years in prison and ordered to pay $523,550 in restitution for creating fake invoices to attract investors. . .
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