MANHATTAN – Securities attorney Ulysses Ware was sentenced Friday to eight years in prison for conspiring to defraud investors in two penny stock scheme.
Through his law firm, Rosenfeld Goldman & Ware, Ware and coconspirators inflated the share price of Service Systems International and Investment Technology Inc. from December 2001 through April 2002. Ware disseminated fraudulent information about the companies, offered baseless stock price predictions, and failed to disclose he was being paid to pump the stocks. Ware netted $225,000 from the pump and dump scheme. He also obtained a false affidavit from an employee and submitted it to the SEC to obstruct an investigation, the U.S. Attorney’s Office said. Ware, 47, lives in Atlanta.