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by Mike Caswell

Roger Coleman, one of the defendants in the Moneyline Brokers pump-and-dump case, has been sentenced to serve eight months of house arrest for his role in the manipulations of two Canadian-linked companies. He received the term, one of the lighter sentences in the case, in an appearance on Thursday, April 21, before Judge Anthony Trenga. In addition to the house arrest, Mr. Coleman must serve two years of supervised release.

Prosecutors claimed that Mr. Coleman, 80, aided pump-and-dumps funnelled through Moneyline Brokers, a Costa Rican entity run by California resident Harold Gallison Jr. and managed by a Canadian named Michael Randles. The group ran promotional campaigns and anonymously sold $6.5-million worth of stock through several U.S. brokerages on behalf of others, according to the government. (All figures are in U.S. dollars.) The stocks in the scheme included Everock Inc., a subpenny mining company that was once domiciled in Ontario, and Bryn Resources Inc., a Toronto company that claimed to be exploring for gold in Nova Scotia.

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