Criminal Defense Attorney Securities Fraud

Last week in Cullman County, James Leonard Craft entered a guilty plea in circuit court, before the Honorable Greg Nichols to one count, for illegally soliciting funds from investors relating to securities fraud in several counties in the State of Alabama. According to his criminal defense attorney, he is presently free on bond and awaiting sentencing while the court determines his ability to pay $185,000 in restitution to the victims.

Mr. Craft, it was revealed n investigation that he and his Florida-based business, Century Lumber & Land asked for funds from investors to supposedly buy products  of wood design from South America. These goods were to be put up for resale to U.S. distribution centers to be used in the production of a variety of products including railroad cross ties.

According to his criminal defense attorney, Mr. Craft admitted that he intended to use the money for personal reasons. Furthermore, records showed that Craft or any branch of his company was legally listed to transact any business dealing with securities as is mandatory by the law in Alabama.

If you've been charged with Securities Fraud or if an investigation is underway, please click here to find out what your next step should be or call 954-928-0059 or 561-366-8200.