What Happened To AJ Discala? Has AJ Discala Been Sentenced?

Abraxas (A.J.) Discala, also known as “AJ Discala,” the former Chief Executive Officer of OmniView Capital Advisors LLC (“OmniView”), was sentenced by United States District Judge Eric N. Vitaliano to 138 months’ imprisonment for orchestrating a multi-million dollar market manipulation scheme.

Discala and his network of company insiders, brokers, and others executed a scheme designed to dupe investors into believing that companies with little in the way of assets were worth hundreds of millions of dollars by manipulating trading activity.

Discala, 47, who is the ex-husband of HBO “Sopranos” star Jamie-Lynn was convicted of the $300 million “pump and dump” stock scheme and found guilty.

The jury concluded that Discala falsely ballooned shares of unstable stocks and in turn sold them to unsuspecting elderly folks and other investors, keeping the profits before the securities crashed, thus leaving them nearly valueless.

“Obviously, we are disappointed, but we believe we have serious issues for our post-trial motions, so we are going to continue to fight on behalf of Mr. Discala”, Charles Ross, Discala’s lawyer, stated after the verdict.