Santa Monica Attorney|Gets Seven Years in Prison

     LOS ANGELES (CN) – A Santa Monica attorney was sentenced Monday to seven years in federal prison for obstructing investigations into a $22 million investment fraud.
     David Tamman, 46, was convicted of 10 counts at trial last year, including obstructing justice, altering records in a federal investigation and being an accessory after the fact to the crimes of his client, John Farahi.
     Farahi, a “radio personality” and Beverly Hills-based investment manager, was sentenced in March to 10 years in federal prison for defrauding people of $24 million.
     Farahi, 56, of Bel Air Estates, ran New Point Financial Services and had a regular show on KIRN-AM. He admitted he defrauded investors of more than $24 million by promising, but failing, to use their money to buy corporate bonds backed by the Troubled Asset Relief Program, the U.S. Attorney’s Office said.
     Farahi pleaded guilty to four felonies: mail fraud, loan fraud, selling unregistered securities and conspiring with his corporate counsel to obstruct justice, prosecutors said. Farahi also was ordered to pay $24.4 million in restitution.
     In sentencing Tamman on Monday, U.S. District Judge Phillip Gutierrez said he imposed the lengthy sentence because Tamman lied to the SEC and lied again at his trial last year. The California State Bar suspended Tamman’s license this year.

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