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Jay Stamper on Crime

 


Pleaded guilty to three white-collar felony charges in 2006

Stamper pleaded guilty to three felony charges associated with the illegal sale of securities in 2006. Stamper was ordered to repay millions of dollars and said that $600,000 of that came from his own pocket. Stamper called the incident "a business mistake I made several years ago," and said securities laws are very complicated, and he acted on advice from two teams of lawyers.

"I never meant to hurt anyone. There was no malice. In a way I was reckless, but there were mitigating circumstances," he said. Stamper moved to South Carolina a year ago to run for Graham's seat, and despite his history, he said he has found most people welcoming.

Source: Spartanburg Herald-Journal: 2014 South Carolina Senate race , Jan 13, 2014

We are all criminals because we over-lawed

We aren't over-lawyered, we're over-lawed. Given the number of laws we have and their vagueness, complexity and contradictions, it's amazing we don't have more lawyers because we surely need them. But maybe that's the point; professional lawyers become professional lawmakers--career politicians making the law more and more imponderable to the layman, in turn necessitating the creation of more lawyers.

Whatever the cause, the fact is: the law is now so absurd that no one--not even a lawyer -- can be sure what the law even is.

You are a criminal. Don't believe me? You've never driven over the .08 limit, never taken an illegal drug, even a prescription medication in the wrong jurisdiction, never ripped one of those mattress tags off? And another thing: how do you know you've never broken the law when you don't know what the law is? Even lawmakers don't read the laws they pass. And even if you did read all of the laws, have you read the court decisions modifying the laws?

Source: 2014 Senate campaign website, jaystamper.blogspot.com , Apr 12, 2013

Pled guilty to SEC violation in exchange for zero sentence

In my own experience, my teams of securities lawyers, didn't know that there was any issue selling 6-month promissory notes to investors without first registering the notes. Both firms relied on the plain language of the 1933 Securities Act, which exempts from registration: "Promissory Notes not exceeding 9 months". They relied on it. I relied on it. The problem was, once upon a time, some circuit court judge said it meant commercial paper rated by a recognized ratings agency.

As much as I want to blame the lawyers, I can't. The law is so complex and unascertainable that its very imponderability is becoming a valid excuse for noncompliance. Since all investors made money and were never defrauded, all the states dropped their investigations but Nevada.

So, did I nobly risk 120 years in state prison for a chance to clear my name? Hell no! I pled guilty, and in return for my pleading guilty to crimes I didn't commit, Nevada agreed to a reduction from 120 years down to zero years.

Source: 2014 Senate campaign website, jaystamper.blogspot.com , Apr 12, 2013

Other candidates on Crime: Jay Stamper on other issues:
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Nikki Haley
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Page last updated: Apr 18, 2014