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Founder of Carroll County company sentenced in securities fraud case

A Westminster man was sentenced to 37 months in prison Wednesday for securities fraud related to the sale of $1.9 million in stock in his company, according to federal prosecutors.

John F. "Jef" Curran III also was ordered to repay $1.25 million to investors in Gargoyles Inc., which claimed to be an advanced materials application company doing business with the military and law enforcement, said the U.S. Attorney in Maryland. Curran, 44, sold the shares between January 2009 to September 2010.

Prosecutors said Curran admitted that he deceived investors with false claims of having customers, sales contracts and purchase orders for Gargoyles' products.

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