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Friday, Sept. 19, 2008
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Failed economist Al Parish was sentenced Thursday to 10 years in prison for securities fraud, the maximum penalty he could get in state court for an investment scheme in which hundreds of investors lost an estimated $66 million.
Prosecutors wanted the stiffest possible penalty in case Parish's appeal of his 24-year federal sentence on similar charges leads to a significant reduction in his prison time.
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Tuesday, Sept. 16, 2008
Convicted economist Al Parish is scheduled to be back in a Charleston courtroom Thursday to be sentenced on a state charge associated with his failed investment empire. Parish, 51, was indicted last year on a single state count of securities fraud, mirroring the several federal charges he pleaded guilty to earlier.
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Thursday, Aug. 28, 2008
Incarcerated economist Al Parish's appeal of his 24-year prison sentenced has been assigned to the federal public defender for South Carolina.
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Wednesday, Aug. 20, 2008
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Incarcerated economist Al Parish squandered millions of dollars running what authorities said was a Ponzi scheme of investor money. Now he wants the federal court system to help financially with the appeal of his 24-year prison sentence.
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Wednesday, July 16, 2008
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Disgraced economist Al Parish did the crime when he bilked $66 million out of nearly 600 investors.
But he doesn't want to do the time — at least not all of his 24-year sentence.
The former Charleston Southern University economist, who last month was handed the federal prison term after pleading guilty in a massive case of fraud, is planning to appeal the sentence, said Andy Savage, the lawyer for his criminal case.
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Thursday, July 10, 2008
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Convicted economist Al Parish deserved his 24-year prison sentence because he took advantage of people he'd known for years and didn't act out of financial necessity or after a life of neglect, "unlike many criminal defendants," the sentencing judge wrote Wednesday.
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Saturday, June 28, 2008
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Al Parish is likely to be housed in the Charleston County Detention Center for the next few days while he remains on a safety and health watch. He could end up living there for weeks, until the federal Bureau of Prisons decides where he'll begin serving his 24 1/3-year sentence for committing fraud against hundreds of investors.
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Saturday, June 28, 2008
The 24-year, four-month federal prison term Al Parish drew for investment fraud Thursday might seem excessive for a non-violent criminal since violent offenders often get shorter sentences. But as numerous Parish victims pointed out at his sentencing hearing, non-violent criminals can inflict serious damage, too.
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Friday, June 27, 2008
"I'm here to see Humpty Dumpty take a fall," Virginia Larisey exclaimed as she walked toward the courthouse.
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Friday, June 27, 2008
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Al Parish, the self-titled "Economan" known for his clownish suits and hollow financial wizardry, was sentenced Thursday to 24 years and four months in prison for an investment scheme that pilfered at least $66 million from roughly 600 investors.
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Thursday, June 26, 2008
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Al Parish, an economics professor known for his clownish suits, was sentenced this evening to just more than 24 years in prison for a purported investment scheme that bilked at least $66 million from roughly 600 investors.
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Thursday, June 26, 2008
The day before receiving his prison sentence, economist Al Parish sat down with Post and Courier reporters Kyle Stock and Schuyler Kropf to discuss his massive fraud for the first time since the government charged him 14 months ago. Parish said that he is not a typical con-man. He was just arrogant and stressed. His bookkeeping was terrible and his investment decisions were worse. A math whiz with no background in investing, Parish said he wished that he never touched a cent on behalf of others. Did he realize that he was breaking the law? He doesn't remember.
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Thursday, June 26, 2008
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John Friedrich remembers the night perfectly.
It was mid-2007, about two months after his gastric-bypass surgery had been canceled. He should have been losing some of the weight that he carried for decades. Instead, he was lying in bed, struggling with new burdens. His inheritance was gone. His job had vanished. Al Parish, his boss, financial adviser and longtime friend, was in the Charleston County jail, deemed a "flight risk" by a federal judge.
Friedrich's heart quickened to a blur and finally over-revved.
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Monday, June 23, 2008
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Al Parish's attorney submitted a sheaf of letters last week from folks vouching for the fallen economist's character. The testimony included missives from his family, childhood friends, Parish's pastor and Charles Van Rysselberge, head of the Charleston Metro Chamber of Commerce. Van Rysselberge wrote that Parish was a great supporter of the chamber and provided an impressive string of annual economic forecasts for the group. In the past five years, his crystal ball was 78 percent accurate, according to the chamber chief, "within 10 percent plus or minus of actual."
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Friday, June 20, 2008
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Fallen economist Al Parish was rushed to the emergency room Thursday, hours after federal prosecutors asked a judge to imprison him for more than 30 years.
He was still under medical watch Thursday evening after being admitted for shortness of breath, a family member reported.
Earlier in the day, prosecutors requested a stringent prison term, noting that Parish's Ponzi scheme pilfered the lives of family, friends and co-workers.
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