A federal appeals court has upheld an order requiring an attorney to pay more than $200,000 for issuing false opinion letters supporting impermissible public offerings of penny stocks.
Former New Jersey Attorney John Frohling was ordered to pay $204,161 in civil penalty, disgorgement and interest by Southern District Judge Miriam Cedarbaum in a civil enforcement proceeding last year brought by the Securities and Exchange Commission over unregistered shares of stock sold by Greenstone Holdings.
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