(Boston, MA) – In Federal Court in Boston, 64-year-old Daniel V. Martinez of Yuba City has been sentenced to a year of probation, 100 hours of community service, ordered to pay a fine of $7500 and forfeit $110,999. This, after pleading guilty to one count of sale of unregistered securities. Specifically, $2.75-million-dollars worth of shares of a Massachusetts based health care company, Arch Therapeutics.

Between 2013 and 2016, Martinez was a real estate attorney for Arch Therapeutics’s Chairperson, Avtar Singh Dillon and placed Arch shares owned by Dillon into an LLC created by and solely managed by Martinez. He then sold those shares on the open market – against existing security law – reaping $1.34-million-dollars in profits for Dillon, “taking a portion for himself” according to a release from the U.S. Attorney’s office in Boston.