Former Georgia Attorney Pleads Guilty To Securities Violations

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Former Georgia Attorney Pleads Guilty To Securities Violations

Hendrickx Toussaint, a former attorney from Atlanta, Georgia, has pleaded guilty in Madison County, Alabama Circuit Court to one count of Conspiracy to Commit Securities Fraud by employing a device, scheme or artifice to defraud, a Class C felony punishable by up to ten years and no less than a year and a day in prison as well as a fine of up to $15,000 upon conviction.

Circuit Court Judge Alison S. Austin will sentence Toussaint on September 17 of this year. Toussaint’s sentence will run concurrently with a federal prison sentence. Earlier this year, Toussaint pleaded guilty in federal court in the United States District Court for the Northern District of Georgia to Conspiracy to Commit Wire Fraud. His federal sentencing will occur on August 4.

Toussaint was indicted by a Madison County, Alabama Grand Jury in June 2014. His co-conspirator, Richard David Hall of Huntsville, Alabama fraudulently solicited investors’ funds to be used in a managed gold “buy-sell” program. He told investors that their funds would be used to buy gold in Ghana, Africa to be traded internationally, which would make a profit for the investors. This trading, however, never occurred, and investor funds were wired through Toussaint’s trust account.

Toussaint used his position as an attorney to lend credibility to the operation. Hall had even gone so far as to write an “attorney attestation letter” supposedly from Toussaint. The letter guaranteed that the operation was legitimate and safe, assuring investors that their investments would be fine.

None of the conspirators were registered with the Alabama Securities Commission to legally conduct securities business within, into, or from Alabama.

If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.

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