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by Mike Caswell

Christopher Wheeler, the New York stock tout charged for a $2.95-million pump-and-dump scheme involving two Canadian listings, has agreed to hand over his New York house and a nearby lakefront property to the federal government. (All figures are in U.S. dollars.) The government had sought the forfeiture of the house, claiming that Mr. Wheeler used it as part of his illegal activities. Government lawyers also said that he purchased the lakefront property with $400,000 of the proceeds from the fraud.

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Wheeler's House

The agreement to hand over the properties is contained in a brief notice Mr. Wheeler's lawyer filed in court on Monday, Sept. 22. In addition to surrendering the two properties, Mr. Wheeler has agreed to forfeit the proceeds from the sale of four vehicles he previously handed over to the government. (Those vehicles were a 2003 Ferrari Modena 360, 2008 Hummer H2, 2007 BMW M6 and 2008 Honda CR-V. He voluntarily surrendered them in March, 2012, with the court to hold the proceeds.) He has also relinquished any claim he had over $52,322 that the government seized from a bank account in his name.

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