- Associated Press - Tuesday, August 23, 2016

BOSTON (AP) - A California man has been sentenced to prison for his role in manipulating the stock of a series of publicly traded companies, including a Boston-based ticket reseller.

Massachusetts U.S. Attorney Carmen Ortiz says 53-year-old Richard Weed, of Newport Beach, was sentenced Monday in federal court in Boston to four years in prison followed by three years of probation. Weed was convicted in May after a trial on charges of conspiracy, securities fraud and wire fraud.

Weed is a securities attorney who was a member of the board for CitySide Tickets Inc. Prosecutors say Weed drafted false and misleading legal opinion letters so his co-conspirators could obtain free trading stock. The co-conspirators were able to manipulate CitySide’s stock and sell their shares at artificially high prices.

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