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MIAMI (CBSMiami/AP) — An attorney found guilty of securities fraud has been sentenced to seven years in prison.

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James Schneider, 77 was sentenced Thursday in Miami federal court. He was convicted in December of multiple charges, including conspiracy to commit securities and wire fraud.

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In addition to his prison sentence, he must pay $19.2 million in restitution to 2,156 investors as well as forfeit $4.8 million.

Prosecutors said 11 other defendants also have been convicted in the pump-and-dump scheme: Schneider’s role was to author fake legal opinion letters to create 20 shell companies; investors then spent millions for shares of the companies from 2008 to 2013.

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(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)