Arab Today, arab today suspects face arraignment in global pennystock fraud
Last Updated : GMT 06:33:10
Arab Today, arab today
Arab Today, arab today

Suspects face arraignment in global penny-stock fraud

Arab Today, arab today

Arab Today, arab today Suspects face arraignment in global penny-stock fraud

New York - AFP

Six people were to appear in US federal courts on Wednesday in connection with what US officials are calling one of the biggest international penny stock frauds ever investigated. They were among nine Canadians and Americans - two of them expats in Thailand - indicted on charges of bilking investors in about 35 countries of more than $140 million, the US Attorney\'s Office for the Eastern District of New York said. A seventh suspect was arrested in the Canadian province of Ontario, while two others remain at large. \"The indictment and arrests are the result of one of the largest international penny stock investigations ever conducted by the Department of Justice and the Federal Bureau of Investigation (FBI),\" with help from foreign police, the US Attorney\'s Office said. According to the indictment against them, the defendants fraudulently \"pumped up\" the share price of worthless penny stocks and then \"dumped\" billions of shares of those stocks by unloading them on unsuspecting investors worldwide. They also allegedly operated \"boiler room\" call centers in at least four countries that induced penny-stock investors to pay advance fees that the defendants promised would enable them to sell their stocks and recover losses. In fact, the fees were stolen. \"I tell you what man ... hitting the Americans would be like taking money from a baby,\" one of the defendants was heard saying in an FBI wiretap. Those arrested were named as Kolt Curry, 38 and Gregory Ellis, 46, both Canadians from Ontario; and Americans Gary Kershner, 72, of Arizona, Joseph Manfredonia, 45, of New Jersey, Cort Poyner, 44, of Florida, and Sonkram Roy Sahachaisere, 43, and William Seals, 51, both of California. Still at large are Sandy Winick, 55, and Greg Curry, 63, both Canadians whose place of residence was given as Bangkok. If convicted, the nine face up to 20 years in prison for each count of conspiracy, wire fraud and securities fraud, as well as time behind bars for impersonating an agent of the Internal Revenue Service (IRS), the US tax collection agency. Those arrested in the United States were slated to appear in federal courts in New York\'s Brooklyn borough as well as Miami, Los Angeles and Tucson, Arizona.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today suspects face arraignment in global pennystock fraud Arab Today, arab today suspects face arraignment in global pennystock fraud

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday