25 July – LAWFUEL- The Law News Network – R. Alexander Acosta, United States Attorney for the Southern District of Florida and Michael S. Clemens, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, announced today that a federal judge in Miami sentenced CARLOS A. SHIBATA, a former Smith Barney stock broker, for pilfering more than $400,000 from a client’s securities brokerage account. SHIBATA was sentenced today by U.S. District Court Judge Shelby Highsmith to 33 months in prison, two years of supervised release, and a $200 special assessment fee.
SHIBATA, 31, was employed by Smith Barney as a registered Investment Advisor Representative in Miami-Dade County, Florida, and was a NASD licensed broker. He was indicted on two counts of wire fraud on September 30, 2004. The Indictment charged SHIBATA with diverting $290,471 in February 2004 from a client’s securities brokerage account at Smith Barney to an account he controlled at E*Trade bank. According to the Indictment, after waiting a few months, SHIBATA attempted to divert an additional $150,000 from the same account to make partial payment on a 2004 Lamborghini at a luxury car dealership in Coral Gables. SHIBATA was fired from Smith Barney shortly thereafter.
Mr. Acosta commended the investigative efforts of the Federal Bureau of Investigation, the Southeast Regional Office of the U.S. Securities and Exchange Commission, and the Florida Department of Financial Services, Bureau of Securities. The case was prosecuted by Assistant United States Attorney Wilfredo Fernandez.
The U.S. Attorney commends the efforts of the Federal Bureau of Investigation, the U.S. Securities and Exchange Commission and the Florida Department of Financial Regulation, Bureau of Securities for their work on the matter.
A copy of this press release may be found on the website of the United States Attorney’s Office for the Southern District of Florida at www.usdoj.gov/usao/fls . Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or on .