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Dallas-based Locke Liddell & Sapp has agreed to pay $8.5 million to settle a class action suit alleging it aided a client in defrauding investors through a Ponzi scheme. The firm and former lawyer Phillip Wylie are settling with a plaintiffs' class who invested with former Locke Liddell client Brian Russell Stearns, an Austin, Texas, businessman serving 30 years in prison for money laundering and securities fraud.
August 03, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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