Several Sentenced In Securities Fraud Conspiracy

March 4, 2008

U.S. Attorney John Brownlee announced Tuesday that several defendants were sentenced Monday in a Charlottesville federal court for their roles in a wire and securities fraud conspiracy.

50-year-old Mary Dowdell of Charlottesville, 57-year-old Gregory Smyth, and 59-year-old Mark Smyth, both of Dana Point, California and 66-year-old Michael Hardesty were all sentenced.

Mary Dowdell was sentenced to 60 months followed with three years of supervised release. Gregory Smyth was sentenced to 37 months of and Mark Smyth was sentenced to 41 months. Hardesty was sentenced 16 months.

"These defendants participated in a scheme in which many victims lost millions of dollars," said Brownlee. "I want to thank the men and women of the FBI and the Securities and Exchange Commission for the outstanding work that brought these defendants to justice."

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