Former Southport financial adviser sentenced for securities fraud

A former Southport resident who previously pled guilty to securities fraud has been sentenced in federal court.

Joseph A. Leonard, 44, has been sentenced by United State District Judge Earl Britt to 210 months imprisonment; three years supervised release, and was ordered to pay a $100 special assessment and $996,984.80 in restitution.

On May 7, 2012, Leonard pled guilty to securities fraud, in violation of Title 15, United States Code, Section 75j(b), and Title 17, Code of Federal Regulations, Section 240.10-b5.

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