Saturday, July 12, 2014
Cort Poyner / Joseph Manfredonia penny stock fraud,chris manfredonia Sandy Hook Newtown,Overtstock fraudster Edward Manfredonia
Cort Poyner / Joseph Manfredonia
Federal prosecutors on Tuesday said they have made arrests in an international penny stock scheme that involved fraudulently inflating shares prices and trading volumes.
The fraud generated more than $140 million through various brokerage and bank accounts, according to a statement from the office of U.S. Attorney Loretta Lynch in Brooklyn. A press conference is scheduled for 11 a.m. EDT.
Two people, Joseph Manfredonia, 45, of New Jersey, and Cort Poyner, 44, of Florida, were arrested on Tuesday morning, according to Peter Donald, an FBI spokesman.
A superseding indictment filed earlier this month also names four Canadians and three other U.S. citizens allegedly involved in the scheme.
The scheme involved fraudulently inflating share prices and trading volumes of certain penny stocks. The defendants also operated a so-called advance fee scheme, making false promises to investors to induce them to pay fees for non-existent services to sell their illiquid penny stock shares, according to the indictment.
Interesting that in the SEC litigation filed against Poyner last week they only listed about $3million in illicit proceeds. Obviously the investigation has blown up into something much much bigger
I have seen the name Cort Poyner in the past
Here is some of my notes:
He was involved in an old FBI bust (but was not named in the complaint)
The investigation into criminal conduct at the Port uncovered a sprawling, multimillion-dollar "pump and dump" stock fraud scheme that used multiple web sites, Facebook pages, and Twitter "feeds" to defraud the investing public into purchasing stocks that were being manipulated by participants in the conspiracy. The scheme was uncovered when investigators identified a longshoreman operating at the Port who received money from others to generate trading volume that "pumped" stock prices in penny stocks ( i.e., low-priced stocks that tend to have lower trading volume and higher volatility).
The discovery of the longshoremen involvement led to a wiretap and financial investigation that revealed links among over 15 web sites, Facebook pages, and Twitter feeds (collectively the "Internet Stock Tips") that purported to provide penny stock picks based on the authors’ expertise and independent research. In truth and in fact, however, the Internet Stock Tips were orchestrated by participants in the stock fraud scheme to dupe unsuspecting investors into purchasing the stock in order to cause an increase in the stock price and generate trading volume. Once those goals were achieved, participants in the scheme sold their interests in the stock and realized gains, the fraudulent recommendations ceased, and victims who purchased while stock prices were on the rise lost a significant portion of their investment, sometimes within hours. Issuers of the Internet Stock Tips were often compensated by other participants in the scheme who were orchestrating the "pump and dump" operation.
Financial analysis to date has identified over $3 million in illegal gains by participants in the scheme and a loss in shareholder equity of over $7 million in four stocks that are referenced in the Complaint. The investigation of the stock manipulation scheme to date has resulted in charges against Bradley Susser of Manhattan; Michael Oiring and Thomas Prezioso of Brooklyn; Jeffrey Hurwitt, Ricardo Fernandez, Donna Levy, Michael Steinberg, and William Mackey of Florida; Jeffery Halbirt and Stinson Bland of Texas; and Juan Rodriguez of Pennsylvania.
A lot of names came from research linked to that bust
Thomas Paglio, Jr.
Empire Consulting, Inc
Alternative Fuel Tech
Alto Group Holdings, Inc.
Serrisan Investment Holdings
Global Investor Solutions
Coastal Media, Inc.
Zarco Management, Inc.
EcoBlu Products, Inc.
Greenwich Financial Group
Quaestus Adviros, Inc.
Greengro Technologies, Inc.
Cannabis Ventures, Inc.
Internet Array, Inc.
US Medsys Corp.
Iteknik Holding Corp.
OneFi Technology Inc.
WhiteMark Homes, Inc.
Maybe some of those public shells are companies they used for the pump&dump scheme
also maybe some of those other entities are entities they used to hold share ownership
Fernandez owned a stock promotion company = Stock Awareness Group LLC
EMC Holdings (Christian Burnett, Elysse Concepcion)
Serrisan Investment Holdings (Gregg Mulholland)
Global Investor Solutions (Michael J. Martinez)
Greenwhich Financial Group? (Brett Newman)
Cannabis Ventures Inc (John Berner)
Quaestus Adviros, Inc (John Berner)
Zarco Management, Inc (Panamanian entity)
Gibraltar Global is an offshore Bahamas/Nassau entity
Publicly traded shells:
Coastal Media Inc. (BLUG) / Blugrass Energy Inc (BLUG)
Metatron, Inc. (MRNJ)
WhiteMark Homes, Inc (WTMK)
OneFi Technology Inc (ONFI)
Iteknik Holding Corp (ITKH)
US Medsys Corp.(UMSY)
Internet Array, Inc (INAR)
Greengro Technologies, Inc (GRNH)
EcoBlu Products, Inc (ECOB)
Alto Group Holdings, Inc. (ALTO)
Alternative Fuel Tech Inc (AFTC)
Cort Poyner (arrested for cocaine possession on 4/11/09)
He is a former promoter disciplined by the SEC
He is also a "financial advisor"
He is listed with several FL business entities
POYNER, CORT CM ENTERPRISES LLC
SILVERMAN CAPITAL GROUP, LLC
MAZEL TUFF HOLDINGS, LLC
MAZEL TUFF LLC
SILVERMAN RACING, LLC
ONYX SECURITIES, INC.
ONYX HOLDINGS, INC.
SILVERMAN & PEREZ GROUP, INC.
LEE MANAGEMENT, INC.
THINK TANK MANAGEMENT, LLC
He owns a nice house:
I wonder if this is the same guy in trouble for another scam in 2011