3 Plead Guilty in Voice-Mail Pump-and-Dump Swindle
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Three people at the center of a scam that preyed on investors by enticing them with voice-mail messages packaged as secret stock tips pleaded guilty to criminal charges yesterday in a District courtroom.
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Don't believe everything you hear: That's message from security researchers tracking a spam scam that uses audio files to push an ongoing pump-and-dump stock scheme.
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Two former underwriters at Zurich American Insurance Co. pleaded guilty yesterday to participating in rigging fake bids in an ongoing investigation into insurance industry practices led by New York Attorney General Eliot Spitzer.
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Nearly three years after hundreds of bodies were found scattered, stacked and left to rot at the Tri-State Crematory, its manager pleaded guilty on Friday to theft, fraud
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Three terror suspects pleaded innocent on Monday to charges that they conspired to possess a radioactive substance and entered into funding arrangements linked to terrorism.
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A third insurance company executive pleaded guilty yesterday to criminal charges in connection with New York state Attorney General Eliot L. Spitzer&#39;s investigation of payoffs and bid-rigging in the insurance industry.
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A federal grand jury indicted three people on charges of conspiracy, fraud, and aggravated identity theft related to a "high-tech" scheme to hijack online brokerage accounts.
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E-Mail sob stories that turn out to be scams could bring jail terms for trio who coaxed $1.2 million from victims.
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A former Xerox customer service agent on Tuesday pleaded guilty to mail fraud for stealing and selling cartridges stolen from his former employer online.
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Admits to sending junk mail to 1.2m AOL subscribers A New York man who was snared in federal investigators' sting operation targeting senders of junk email pleaded guilty to spamming 1.2m AOL subscribers.â¦
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A former senior executive at Marsh &amp; McLennan Cos. Inc. and two American International Group Inc. employees pleaded guilty yesterday to criminal charges in New York's probe of bid rigging and price fixing in the insurance industry.
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(InfoWorld) - Three U.S. men and one man living in France have pleaded guilty to charges related to a stock manipulation scheme that included sending out tens of millions of spam messages to pump up the stock value of 15 companies, the U.S. Department of Justice said Thursday. The four men cost investors more than $20 million in their so-called pump-and-dump scheme, the DOJ said. Michael Saquella, also known as Michael Paloma, 47, of Mesa, Arizona., pleaded guilty in U.S. District Court for the Eastern District of Virginia in Alexandria on Aug. 20. Lawrence J. Kaplan, 63, of Scottsdale, Arizona, pleaded guilty on July 25, in Alexandria to similar charges. Henry "Hank" J. Zemla, 38, of Harris Township, Michigan, also pleaded guilty in federal court in Alexandria on July 20. The three defendants are scheduled to be sentenced between late November and early February. Saquella pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud and one count of electronic mail fraud involving 15 publicly traded companies. Kaplan pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud involving 14 of these companies, and Zemla pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud involving one of the companies. The plea agreements for all three defendants were unsealed Thursday. The scheme involved stocks from companies including eDollars, Xtreme Technologies, and PokerBook Gaming. Justin Medlin, 26, of Paris, also pleaded guilty in federal court in Alexandria on Aug. 20 to a criminal information charging him with one count of electronic mail fraud and one count of conspiracy to commit securities fraud and electronic mail fraud involving seven of the companies. Medlin's plea agreement was unsealed Thursday. He will be sentenced on Nov. 30. The maximum penalties for each of the fraud charges is five years in prison and a $250,000 fine. The stock manipulation schemes generally followed a similar pattern, the DOJ said. The defendants generally solicited small, privately held companies that needed to raise money. One of the defendants would offer to help the company raise significant money through the sale of the company's stock, and then the defendants would list the company's shares on the Pink Sheets, a price quotation system primarily used for trading small companies' stocks. The group of defendants would then gain control of a majority of the stock of the company, the DOJ said. The co-conspirators then engaged in deceptive and manipulative trading practices to boost the price and volume of the company's stock, the DOJ said. In some cases, members of the conspiracy encouraged investors to purchase companies' stock by giving the investors free-trading shares in return for buying blocks of shares at agreed-upon prices, thereby creating the illusion of trading volume and active investor interest. In other instances, members of the conspiracy bought and sold shares of the companies' stock between and among themselves to give the appearance of investor interest, the DOJ said. The co-conspirators also falsely manipulated the price and volume of each company's stock by making materially false and misleading statements in news releases and in spam e-mails distributed by Medlin and other spammers to tens of millions of U.S. e-mail addresses, in an effort to create artificial demand for the companies' stock, the DOJ said. In related actions, the U.S. Securities and Exchange Commission has filed civil charges against Saquella and Kaplan for their part in the schemes to manipulate the price and volume of the companies' securities. Three other defendants, Steven P. Luscko, Gregory A. Neu, and Brian G. Brunette, have pleaded guilty and have been sentenced in federal court in Alexandria for their roles in related stock manipulation schemes. Luscko and Neu were each sentenced to five years in prison and Brunette was sentenced to one year in prison.
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Enterasys Networks Inc.&#39;s former chief executive pleaded guilty to conspiracy to commit securities, mail and wire fraud in US District Court.
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A Brooklyn man pleaded guilty on Monday to sending spam e-mails to more than 1.2 million subscribers of America Online in a scheme that foiled the Internet company's spam-filtering system.
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Six reputed members of the Gambino crime family pleaded guilty to ringing up more than &#36;650 million in unauthorized charges on telephone customers' credit cards and phone bills.
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Two more defendants have pleaded guilty to charges of criminal copyright infringement for selling counterfeit software with a retail value of nearly US$6 million on eBay Inc., the U.S. Department of Justice announced.
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Three Indians are charged with  hacking into US stock brokerage accounts to boost the value of their shares.