Changes

==Legal troubles==

==Legal troubles==

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Phillips did not again seek public office but remained a long-term financial backer of the Mississippi GOP. He subsequently became an officer of the Stirling Homex Corporation, which manufactured housing modules and sought to locate a plant in Harrison County.<ref>''[[The New York Times]].'' January 30, 1977; ''Jackson Clarion-Ledger,'' April 3, 1980.</ref> The New York-based firm went bankrupt in 1972. Phillips and four other company officers were indicted and tried on charges of [[conspiracy]] and fraud in the sale of $40 million worth of stock. Four of the officers, including Phillips, were found guilty of falsely inflating earnings reports and deceiving investors, auditors, and the [[U.S. Securities and Exchange Commission]].<ref>''Infobase Publishing: Facts on File'', XXXVII (February 12, 1977), p. 751; ''The New York Times,'' January 30, 1977.</ref> Phillips was fined $5,000 and received a ten-month sentence imposed by Judge Marvin E. Frankel.<ref>''The New York Times,'' March 12, 1977; ''Facts on File, XXXVII (March 19, 1977), p. 203; ''Jackson Clarion-Ledger,'' April 3, 1980.</ref> In 1978, the [[United States Supreme Court]] declined to hear appeals by the defendants and left intact their fines and sentences.<ref>''Facts on File,'' XXXVIII (October 6, 1978), p. 751.</ref> In 1980, Phillips was disbarred by the Mississippi Supreme Court, which rejected a suspension as proposed in 1979 by a special state bar tribunal.<ref>''Jackson Clarion-Ledger'', April 3, 1980</ref> Phillips was permitted to seek reinstatement to the bar in September 1982 and thereafter resumed the practice of corporate law in Jackson.<ref>''Jackson Clarion-Leger,'' May 15, 1980; ''Challenging the Status Quo," p. 263.</ref>

Phillips did not again seek public office but remained a long-term financial backer of the Mississippi GOP. He subsequently became an officer of the Stirling Homex Corporation, which manufactured housing modules and sought to locate a plant in Harrison County.<ref>''[[The New York Times]].'' January 30, 1977; ''Jackson Clarion-Ledger,'' April 3, 1980.</ref> The New York-based firm went bankrupt in 1972. Phillips and four other company officers were indicted and tried on charges of [[conspiracy]] and fraud in the sale of $40 million worth of stock. Four of the officers, including Phillips, were found guilty of falsely inflating earnings reports and deceiving investors, auditors, and the [[U.S. Securities and Exchange Commission]].<ref>''Infobase Publishing: Facts on File'', XXXVII (February 12, 1977), p. 751; ''The New York Times,'' January 30, 1977.</ref> Phillips was fined $5,000 and received a ten-month sentence imposed by Judge Marvin E. Frankel.<ref>''The New York Times,'' March 12, 1977; ''Facts on File, XXXVII (March 19, 1977), p. 203; ''Jackson Clarion-Ledger,'' April 3, 1980.</ref>  

 

In 1978, the [[United States Supreme Court]] declined to hear appeals by the defendants and left intact their fines and sentences.<ref>''Facts on File,'' XXXVIII (October 6, 1978), p. 751.</ref> In 1980, Phillips was disbarred by the Mississippi Supreme Court, which rejected a suspension as proposed in 1979 by a special state bar tribunal.<ref>''Jackson Clarion-Ledger'', April 3, 1980</ref> Phillips was permitted to seek reinstatement to the bar in September 1982 and thereafter resumed the practice of corporate law in Jackson.<ref>''Jackson Clarion-Leger,'' May 15, 1980; ''Challenging the Status Quo," p. 263.</ref>

==Legacy==

==Legacy==