Brought to you by WBIW News and Network Indiana
Last updated on Wednesday, October 24, 2012
(BLOOMINGTON) - More than four years after being charged with felonies based on alleged fraudulent and deceptive business practices, Bloomington attorney Philip Chamberlain has agreed to plead guilty to a single charge of counterfeiting.
The Herald Times reports that the charges are based on an Indiana statute that makes it a crime to create a written document that purports to have been made by someone who did not give permission for it to be made nor authorize it.
Chamberlain was charged in May 2008 with five felonies: two counts of fraudulent or deceitful acts with the offer, sale or purchase of a security; one count of forgery; one count of offer or sale of an unregistered security; and one count of transacting business as an unregistered broker-dealer or agent.
Chamberlain is set to be sentenced Jan. 3, and judgment on the felony could be reduced to a misdemeanor.
Before the charges were filed in 2008, Chamberlain's license to practice law was suspended for "failure to respond to the commission's demands for a response to a grievance filed against him," according to an order filed by the Indiana Supreme Court.
It has since been reinstated, and Chamberlain continues to practice law in Monroe County. He is in good standing with the state Bar Association.
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