News Release about WIWAG from Attorney's office

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Posted By: warshawlaw

1. The indictment charged the individuals and the company, so the possibility of jail is there for the individuals. However, because they pled out their crime to single counts of each felony, they are likely to receive probation and a fine, plus freeway cleaning, er, community service. However, because of the nature of the crime, I expect that an element of their plea was an accounting of all fraudulent PSA holders they sold plus sale of their assets to make restitution to the purchasers. I'd not be surprised to see a restitution order as part of the plea bargain.

2. Any fine would go to the government. If they have substantial assets and a suitable plaintiff can be found I would expect a civil action aimed at them to be filed. Hell, I'd be willing to represent a plaintiff if there is anyone out there who got burned on this. Once they admit to a felony, the case itself is a slam dunk (the admission of guilt in a criminal case is stronger than any other admission).