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Man Allegedly Violates Probation With Attempted Securities Fraud

Joseph Leonard, of Greenville, North Carolina, was already on probation after pleading guilty to securities fraud earlier this year, but he is now facing new charges for securities fraud in U.S. District Court in Raleigh. Leonard was arrested on September 12, 2012, for the new alleged scheme, which would be considered a violation of his probation in connection with the previous securities fraud charges.

According to the new allegations, Leonard attempted to lure investors into buying stock in Prosano Systems. He allegedly told investors that the company offered a “proton beam” therapy for patients with cancer. Unfortunately, it is believed that Leonard made false statements to his potential investors in an attempt to lure them into investment fraud.

Previously, Leonard had pleaded guilty to securities fraud in relation to a similar scheme. In that scheme, he allegedly lured investors into handing over their cash for investment in a company called Proton Therapy. In that instance, he was accused of creating fake stock certificates and using investors’ cash for his own personal expenses.

Leonard’s scheduled appearance in federal court for the new charges was October 1.

If you or a member of your family has been taken in by an investment scam or Ponzi scheme, don’t wait until it’s too late to get help and attempt to recover your losses. The securities fraud lawyers with Meyer Wilson have more than 50 years of collective experienced representing harmed investors in stockbroker mediation, arbitration, and litigation, and we’d be happy to discuss your situation with you in a completely free and confidential legal consultation. Just give us a call today, or fill out our online contact form for more information.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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