(Phoenix, Ariz. – Feb. 22, 2008) Attorney General Terry Goddard announced that David Leyshon, 48, of Phoenix, was sentenced today to three years in prison followed by seven years of supervised probation. Leyshon pleaded guilty in January to one count of fraudulent schemes and one count of sale of securities by an unregistered dealer or salesman. Both are felony charges.
Maricopa County Superior Court Judge Roland Steinle also ordered Leyshon to pay total restitution of $265,051 to five victims.
According to court documents, from December 2004 through March 2006, Leyshon acted as an “investment advisor” and persuaded several people to “invest” more than $250,000 through a purported investment firm called Leyshon Capital Management. He promised he would use the money to buy and sell securities on behalf of the investors, but he converted much of the investors’ funds to his personal use and to other unauthorized uses. Leyshon was not registered with the Arizona Corporation as a securities broker or salesman.
The conviction results from an investigation by the Securities Division of the Arizona Corporation Commission and prosecution by the Attorney General’s Office.