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by Mike Caswell

Dennis Verderosa, a New York man charged for his part in a boiler room scheme that boosted former Canadian Securities Exchange listing Intelligent Content Enterprises Inc., has pleaded guilty to a criminal fraud charge. The government claimed that Mr. Verderosa, 67, was one of several men who helped with the pump-and-dumps of Intelligent Content and other listings. His role included calling victims, some of them seniors, and employing "strong-arm, fraudulent promotional activity," the government claims.

Mr. Verderosa's plea is contained in a one-page document entered on Monday, April 30, in New York. The charge to which he has pleaded guilty is conspiracy to commit securities fraud, which carries a maximum sentence of five years. He is scheduled for sentencing on Sept. 28, 2018.

The case against Mr. Verderosa is part of a larger action over a $147-million manipulation scheme. (All figures are in U.S. dollars.) Prosecutors say that he and 14 others manipulated five thinly traded companies, with Toronto's Intelligent Content prominently among them. The group cold-called seniors and others and aggressively persuaded them to buy millions of shares, according to the government.

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