Martin Armstrong, the disgraced former commodities trader who cost Japanese investors as much as $1 billion, pleaded guilty last week to one count of conspiracy to commit securities fraud. But the plea doesn't resolve the problem that has kept Armstrong jailed for more than six years on civil contempt charges, based on his alleged refusal to give the SEC millions in valuables -- including a bust of Julius Caesar. And Armstrong won't begin serving his conspiracy sentence until the contempt order is lifted.
August 21, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Martin Armstrong has given up the game. Or at least half of it.
The disgraced former commodities and futures trader who cost Japanese investors as much as $1 billon pleaded guilty to one count of conspiracy to commit securities wire and commodities fraud Thursday. He faces up to 5 years in prison when he is sentenced in January by Judge John Keenan of the Southern District of New York.
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