UPDATE: At 2 p.m. today, Jan. 22, U.S. District Judge Middlebrooks denied ex-stockbroker Jamie Solow’s request that he stay his order sending Solow to jail on Monday. The judge did, however, delay Solow’s surrender date one week to allow Solow time to appeal. Solow’s new surrender date is Feb. 1.
By Dan Christensen, browardbulldog.org
A globetrotting former stock broker who’s been living a life of luxury in Fort Lauderdale since a jury found that he defrauded hundreds of small investors who bought his risky, mortgage-backed securities has been ordered to prison indefinitely.
A judge last year ordered Solow to pay nearly $6 million in ill-gotten gains and civil penalties after a nine week civil trial.
The money trail that regulators have followed to collect stretches across the world – from a bank in the tiny South Pacific nation of The Cook Islands where Solow’s wife, Gina, has a $5.2 million certificate of deposit, to Swiss safe deposit boxes stuffed with cash and jewelry.