This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Harold Gallison Jr., the alleged mastermind of the Moneyline Brokers pump-and-dump scheme, has secured his release from jail on a $1,797,500 appearance bond and a list of other conditions that include GPS monitoring. (All figures are in U.S. dollars.) Virginia Magistrate Judge John Anderson granted his release in a court appearance on the afternoon of Thursday, Aug. 20. Prosecutors did not oppose the terms.

Mr. Gallison has been in jail since the government charged him and others, including a Canadian named Michael Randles, for the pump-and-dumps of two companies. Prosecutors claim that the group ran promotional campaigns and anonymously sold $6.5-million worth of shares through several U.S. brokerages on behalf of others. One of the stocks that the men are accused of promoting is Everock Inc., a subpenny mining company that was once domiciled in Ontario.

Authorities arrested Mr. Gallison, 57, in California on July 10, 2015, on charges of securities fraud and conspiracy to commit wire fraud. After his arrest he was transported to the Eastern District of Virginia, where the case originated, to await Thursday's detention hearing. His conditions of release include surrendering his passport and those of his wife and children. He may only travel in California and Virginia (for court appearances) and may not change his residence. His $1,797,500 appearance bond is secured by property, including a residence in California.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS