By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, March 16, 2016.

Erwin J. Shustak

Managing Partner

Location: San Diego, California
New York, New York
Phone: (619) 696-9500 (Ext. 109)
(800) 496-5900 (Ext. 109)
Email: [email protected]

An Austin, Texas attorney was sentenced to 17 years in Federal prison for harboring and concealing a client who was a fugitive in Mexico and for conspiring with the client to commit wire fraud as part of the client’s scam stock sale.

Patrick Lanier, 67, represented  Harris Dempsey “Butch” Ballow in Ballow’s proceedings before the Securities and Exchange Commission in 2004 and during the ensuing criminal case that resulted in Ballow fleeing the country for Mexico. Ballow had been indicted in 2003 on fraud and money laundering charges arising out of misrepresentations he made in connection with the sale of stock. 

A jury conviced the lawyer, Lanier, on 16 counts in February for helping his client sell shares of stock that had been purchased by Ballow’s corporation while Ballow was on the lam. That jury found Lanier guilty of conspiracy to commit wire fraud on the stock sale scheme, 13 counts of wire fraud and one count of harboring and concealing a criminal. Lanier also was ordered to pay $37 million to the victims of the stock fraud upon his release from prison.

Shustak Reynolds & Partners, P.C.  focuses its practice on the securities industry and matters affecting broker-dealers, registered representatives and the financial services sector. For more information, contact Erwin J. Shustak, managing partner, at [email protected], or call 800.496.5900 for a free consultation. 

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