AceShowbiz - Jamie-Lynn Sigler's ex-husband, Abraxas Discala, has been convicted of securities fraud and conspiracy. Federal prosecutors claimed the 47-year-old was guilty of planning a $300 million (GBP222,000) stock manipulation scheme, known as 'a pump-and-dump', and he was convicted in Brooklyn, New York on Friday, May 4.
Discala's lawyer Charles Ross is planning to appeal the conviction, stating, "We're going to continue to fight on behalf of Mr Discala."
The broker and a lawyer associate, Kyleen Cane, were both charged with fraudulently inflating the prices of penny stocks, selling them to elderly people and other investors, and keeping the profits, according to Reuters. The defendants' actions reportedly cost their investors millions.
Cane was found not guilty in court on Friday.
Discala and "The Sopranos" star Sigler were married from 2003 to 2006.