Robert J. Andres was suspended from appearing or practicing law before the SEC due to his part in a ponzi scheme.
Quick Summary: An ex-attorney in the state of Texas, Andres was previously charged and convicted of a felony in December. Andres used new investor funds to pay earlier investors and admitted to using $2.2 million of those funds for his own personal use. He also invested $1.2 million in unauthorized investment schemes.
Penalty: Andres was sentenced to 56 months in prison and 3 years of probation. He is also ordered to pay restitution in the amount of $3.2 million.
To read the original order click here.