Tag: Smith & Co

It wasn't the life term prosecutors sought, but 65-year-old security industry investor Timothy McGinn today was sentenced to be in federal prison until he's 80. McGinn had asked for a more lenient sentence after being convicted earlier this year of fraud, conspiracy and tax evasion in a Ponzi-like scheme that caused investors to lose millions. A judge spurned that request, calling McGinn  “arrogant,” news reports say. David L. Smith, 68, McGinn's former partner in the Albany, N.Y.-based...

Security industry investors Timothy McGinn and David L. Smith are set to be sentenced next week and could spend the rest of their lives in prison after being convicted of fraud, conspiracy and tax evasion earlier this year. That's the sentence prosecutors want a judge to impose on the pair—formerly partners at the Albany, N.Y.-based brokerage firm of McGinn, Smith & Co., which conducted dealings in the alarm industry—when they appear in court on Aug. 7, according to the Time Union, an...