Contact Us 713-426-2244

Our Blog

Connect-a-Jet CEO Found Guilty of Securities Fraud

Posted by Dan Cogdell | Jun 25, 2015 | 0 Comments

Connect-a-Jet CEO Martin Cantu of Round Rock, TX, has been found guilty of two securities fraud charges, including one count of conspiracy to commit securities fraud and one count of securities fraud and/or aiding and abetting.

Cantu was convicted in the U.S. District Court, Northern District of Texas after a six-day trial. He and co-defendant Jason Wynn, a Lantana, TX stock promoter, were accused of making false and misleading statements to artificially inflate the price of Connect-a-Jet stock and personally profit from the misleading activity.

Connect-a-Jet was advertised and promoted as a real-time online booking system for private jets. According to the indictment, the company never developed the system beyond the initial concept and design stages.

Cantu allegedly sold 250,000 shares of Connect-a-Jet stock from August to October 2007, realizing a profit of almost $550,000. Wynn allegedly sold 4.2 million shares from August 2007 through January 2008 for a profit of $2.6 million. Wynn pleaded guilty earlier this year to a charge of conspiracy to commit securities fraud.

Cantu faces up to 20 years in prison and a $250,000 fine on the securities fraud charge, and up to five years in prison and a $250,000 fine on the conspiracy charge. He may also be ordered to pay restitution.

The Cogdell Law Firm is a boutique law firm focusing on large, complex business and criminal financial-related litigation, including white collar criminal defense, securities fraud, health care fraud investigation, criminal appeals and state criminal defense. When results matter most, contact Dan Cogdell at (713) 426-2244 or [email protected].

About the Author

Dan Cogdell

Principal & Founder Principal and founding attorney at Cogdell Law Firm, Dan Cogdell, is often referred to by his contemporaries as a “Texas trial legend.” He has been practicing criminal defense law for 36 years, during which time he has handled some of the most complex and high-profile cases i...

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

The Best Resource You Can Have When Everything Is On The Line.

Start your defense with Cogdell Law Firm.

Cogdell Law Firm, PLLC.
1000 Main St., Suite 2300
Houston, TX 77002
713-426-2244

Menu