The fact is that the $140 million mentioned below is not even a tip of the iceberg in regards to penny stock and now more than ever large corporate stock masnipulation by insiders to defraud investors particularly Americans and send their former dollars to anonymous and semi-anonymous accounts.Elites with U.S.government connections are the ones who most often are involved and who are also most protected.The biggest mystery is when well connected stock shares money launderers like Bernie Madoff are prosecuted and imprisoned but all in all his prosecutuion was a fluke in light of all those before him and since,many with CIA and Israeli Mossad connections as well as uk'S MI 5 and MI6 CONNECTIONS.THIS APPEARS TO BE HOW THEY FUND THEIR UNENDING TERRORISM ARIOUND THE WORLD NOW IN THE USA AS WELL.
http://abcnews.go.com/Business/charged-140-million-penny-stock-fraud/story?id=19948039
9 Charged in $140 Million Penny Stock Fraud
Aug. 13, 2013
Nine
people have been charged in one of the largest international penny
stock frauds ever, federal authorities said Tuesday in New York, one of
five states where arrests were made.
"As
alleged in the indictment, the defendants used our securities markets
as a platform from which to run elaborate fraudulent schemes to
victimize unsuspecting investors across the globe," said US Attorney
Loretta Lynch.
According to
court records, the defendants victimized investors in nearly three dozen
countries and generated more than $140 million by fraudulently
inflating the price of penny stocks and then dumping them on
unsuspecting investors.
"The
victims believed they would turn a profit on their nearly worthless
penny stocks but never saw so much as a nickel," said FBI Special Agent
in Charge April Brooks.
In a
separate but related scheme the defendants are accused of operating
boiler rooms to sell the worthless stocks and collect fees.
"The
criminals behind this scheme were shameless in heartlessly defrauding
hundreds of victims out of their savings and retirement accounts for
their own enrichment," said James C. Spero, of Homeland Security
Investigations in Buffalo.
The
schemes were allegedly orchestrated by Sandy Winick, a Canadian living
in Thailand. According to federal prosecutors in Brooklyn, the schemes
involved 11 "thinly traded companies with minimal assets and
non-existent business operations, which in many cases were mere shell
companies."
At one point
prosecutors said Winick boasted about his ability to conceal the alleged
scam compared to another more obvious scam, stating: "That deal is
obviously a pump and dump. We know enough to be subtle."
Winick is not in custody. Neither is co-defendant Gregory Curry who is accused of deceiving victims.
The
other seven defendants are in custody, including Joseph Manfredonia of
New Jersey whose role, according to the indictment, was to generate
"false press releases to promote" the penny stocks. Cort Poyner of
Florida, who was also arrested Tuesday, is accused of bribing brokers to
purchase the penny stocks on behalf of their clients.
Authorities
caught defendant Kolt Curry on a wiretap describing the scheme this
way: "I would say that 100 percent of these stocks are like uh pink uh…
just dumps . . . . so … ya know they're totally, they're like, so a lot
of these guys are dying . . . . to get rid of this crap. . . . The money
is good, it's easy. It's easy money. Definitely easy money, and it's
good money."
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