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by Mike Caswell

Kelowna's Phil Kueber has pleaded guilty in the United States to charges stemming from the manipulation of Cynk Technology Corp., a pink sheets listing that was briefly worth $4.5-billion last year. (All figures are in U.S. dollars.) He entered the plea in an appearance before New York Judge Leo Glasser on the morning of Thursday, Sept. 24. Mr. Kueber also agreed to an order requiring him to forfeit $1.2-million.

The plea comes just one month after Mr. Kueber voluntarily went to the U.S. to answer the charges. He surrendered to authorities and appeared before a judge on Aug. 24. The judge granted his immediate release on a $150,000 appearance bond (which Judge Glasser has continued). The terms of his release include a requirement that he live in New York City. It is not yet clear what assistance, if any, Mr. Kueber has agreed to provide the government as part of his plea agreement. Such details are usually not available until sentencing.

MEETME

Phil Kueber

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