Man convicted of securities fraud has bond revokedPublished 1:57pm Wednesday, December 5, 2012
FROM STAFF REPORTS
A former county resident, who was convicted of securities fraud in 2009, had his bond revoked Nov. 27 after new securities charges were filed against him.
According to an Alabama Securities Commission press release, Lysle John Fleming was indicted by a grand jury in January 2012 on charges that he committed securities fraud by soliciting funds from an Alabama investor to take part in an off-shore investment opportunity, which allegedly involved the sale of unregistered promissory notes and investment contracts valued at approximately $430,000.
Fleming had been released on $100,000 bond, according to the press release.
However, his bond was revoked at a Nov. 27 bond revocation hearing in Shelby County Circuit Court after new charges were filed against him, including two counts of selling unregistered securities, two counts of the sale of securities by an unregistered agent, three counts of fraud in connection with the sale of securities and one count of first-degree theft by deception.
Fleming is being held in the Shelby County Jail until his trial, currently scheduled for early 2013.