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Criminal

Jul. 30, 2011

Former Pegasus chief pleads guilty to securities fraud

Jasper Knabb, the former chief executive of Fremont, Calif.-based Pegasus Wireless Corp., pleaded guilty in San Francisco federal court Thursday to three securities fraud charges related to his sale of company stock to pay off fake corporate debt.

By Jill Redhage
Daily Journal Staff Writer

Jasper Knabb, the former chief executive of Fremont, Calif.-based Pegasus Wireless Corp., pleaded guilty in San Francisco federal court Thursday to three securities fraud charges related to his sale of company stock to pay off fake corporate debt. He instead funneled the money to himself and his family, prosecutors said.

The former chief financial officer of Pegasus, Stephen Durland, was charged with and pleaded guilty to th...

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