Litigation Release No. 18099 / April 23, 2003
United States v. Jui-Teng Lin, CR-02-0423 (DGT) (Eastern District of New York, filed April 11, 2002)
Securities Law Recidivist Sentenced
To Over 5 Years In Prison
On April 23, 2003, the United States District Court for the Eastern District of New York sentenced Dr. Jui-Teng Lin to 5 years and 10 months in prison for securities fraud and money laundering. Dr. Lin was convicted by jury trial on December 13, 2002. According to the evidence at trial, Dr. Lin manipulated the common stock of Surgilight, Inc., a publicly traded company headquartered in Orlando, Florida. Dr. Lin settled a prior civil action brought by the Commission in 1998 by consenting to a permanent injunction against further violations of the federal securities laws [see SEC v. Jui-Teng Lin and Yuchin Lin, Litigation Release No. 15870 (Sept. 3, 1998)]. Dr. Lin's violation of that injunction resulted in an enhancement of his sentence in the Surgilight case. Simultaneously with his indictment, the Securities and Exchange Commission filed a civil action against Dr. Lin and others in the United States District Court for the Middle District of Florida arising out of the same securities fraud for which he was convicted. That action is pending. For further information, see Litigation Release Nos. 17899 (Dec. 17, 2002) and 17469 (April 11, 2002).