MuskogeePhoenix.com, Muskogee, OK

Local News

September 30, 2008

<font color = red>BREAKING NEWS:</font> Wagoner man sentenced to 10 years in securities fraud

Phillip Raglin, 23, of Wagoner was sentenced to 120 months in federal prison Tuesday after admitting in May to selling unregistered securities.

That is the maximum sentence under the guidelines, said Special Attorney to the U.S. Attorney General Susan Dickerson Cox.

Raglin also was ordered to pay more than $1 million in restitution. Some victims have received partial reimbursement by the Oklahoma Department of Securities, which confiscated luxury cars, bank accounts and other assets of Raglin’s. Dickerson Cox said her office can place an “immediate levy on any property we can find (belonging to Raglin).”

Raglin is to serve three years supervised release after serving his prison term, said U.S. District Judge Ronald A. White. He also is not to engage in any new financial endeavors during that time.

He still faces 121 counts of obtaining money by false pretenses in Wagoner County District Court, said Bill Wilson, investigator for Wagoner County District Attorney’s Office.

A trial date is expected to be set during a felony jury sounding docket that begins at 1:30 p.m. Oct. 6 in Wagoner County District Court.

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