Lawyer is acquitted in alleged scheme to inflate stock price; actress’s ex-husband is convicted

Criminal Justice

- Lawyer is acquitted in alleged scheme to inflate stock price; actress’s ex-husband is convicted

Actress Jamie-Lynn Discala and then-husband A.J. Discala at the 8th Annual Hollywood Film Festival’s Hollywood Awards in October 2004 in Beverly Hills, California./Featureflash Photo Agency (Shutterstock.com.)

A Las Vegas lawyer has been acquitted of all charges in an alleged scheme to manipulate the stock price of a technology company.

Federal jurors in Brooklyn, New York, acquitted Kyleen Cane on charges of conspiracy and securities fraud, Law360 reports. Her co-defendant, Abraxas J. “A.J.” Discala, was convicted of securities fraud, wire fraud and conspiracy in the alleged pump-and-dump scheme.

Discala was CEO of OmniView Capital Advisors and is the former husband of Sopranos actress Jamie-Lynn Sigler. Reuters and a press release also have information.

The government had claimed Cane secretly controlled free trading shares of Cubed Inc., a company said to be developing an app, then set up escrow accounts to sell the stock while other conspirators manipulated the price, according to Law360.

Lawyer Roland Riopelle represented Cane.

“The jury saw the accusations the way we did, that our client was a bit of an afterthought,” he told Law360. Cane was trying to help Cubed, he argued. If she was involved in an illegal scheme, he said, why didn’t she sell all the stock and “ride off into the sunset with millions of dollars?”


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Author: Edward Lott

Edward Lott, Ph.D., M.B.A. is president and managing partner of Allentown-based ForLawFirmsOnly Marketing, Inc., a local search and digital marketing agency that offers clients lead generation, local seo and Google Maps Domination. Ed has been a digital entrepreneur since 1994, having discovered very early the opportunities the Internet offered. After having spent over two decades helping attorneys grow their practice, Ed joined the staff of ForLawFirmsOnly Marketing as President and Managing Partner, where he is expanding the agency’s cutting-edge services to the legal market. A true marketing futurist, Ed's vast experience working directly with attorneys has given him a unique perspective on law firm marketing not found in many other digital marketing agencies. Ed has reshaped the offerings of ForLawFirmsOnly to focus on growing law firms through a holistic approach to digital marketing evident in the reformulated lead generation processes now in place. Want to learn more about ForLawFirmsOnly Marketing, their lead generation programs, or just talk to Ed about his visions for helping law firms grow? Call him at 855-943-8736.

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