A former New York lawyer who lied to federal agents about his role in a stock price manipulation scheme will spend the next two years on federal probation.
Robert S. Brown, formerly with New York's Reitler Brown & Rosenblatt, pleaded guilty in Washington federal district court to obstructing a grand jury's investigation of a so-called stock "scalping" scheme that involved the use of promotional material to tout particular securities.
Brown was one of three lawyers who got caught up in the investigation. Chief Judge Royce Lamberth sentenced Brown on July 3. Melissa Mahler and Franklin Fisher, the other attorneys who were charged, were each sentenced, earlier, to two years of probation.
Prosecutors in Washington recommended Lamberth sentence Brown to probation based on his substantial cooperation with federal investigators. Under the negotiated terms of the plea, prosecutors said Brown faced anywhere from probation to six months in jail. The judge did not impose any period of confinement.