Michael Glaspie has been sentenced to 6 years in jail for his participation within the Mike G Deal.
Glaspie, 72, will give up himself to the BOP on February 14th, 2024. He has additionally been ordered to pay a $2.4 million financial judgment.
In handing down Glaspie’s sentence, his presentencing objection to the quantity his victims misplaced was upheld.
The courtroom nevertheless rejected Glaspie’s request for a downward variance on his sentencing, as an alternative opting to fluctuate upward (improve the penalty).
This variance adjustment resulted in an extended sentence than the utmost 57 months the DOJ requested (4.75 years).
If he makes it out alive, Glaspie will likely be topic to an additional three years of supervision on launch. Both approach, Glaspie’s scamming has come to an finish.
Restitution with respect to Glaspie’s Mike G Deal victims is to be decided at a later date. This probably ties into the sentencing of Glaspie’s co-defendants, Neil Chandran and Bryan Lee.
A Standing Convention for Chandran’s and Lee’s respective prison circumstances is scheduled for November seventh.
Parallel civil fraud proceedings initiated by the SEC additionally hinged on Glaspie’s sentencing.
Upon being criminally convicted and sentenced … Glaspie will likely be collaterally estopped from contesting legal responsibility on this case and the SEC intends to promptly transfer for abstract judgment on that foundation.
It’s anticipated the SEC will file for abstract judgment towards Glaspie within the coming weeks.