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by Mike Caswell

Michael Randles, a Canadian charged in the Moneyline Brokers pump-and-dump scheme, has arrived in U.S. custody. Almost a year after he was charged, FBI agents collected him from Costa Rica on June 2, 2016, and transported him to Virginia, where he remains in jail. A judge has not yet determined what conditions, if any, would allow his release until trial.

Prosecutors claim that Mr. Randles, 48, was one of those behind Moneyline Brokers, a Costa Rican firm that carried out pump-and-dumps on the U.S. markets in 2009 and 2010. The firm aided promotional campaigns and anonymously sold shares through several U.S. brokerages on behalf of others, according to the government. The stocks in the scheme included Everock Inc., a subpenny mining stock that was once domiciled in Ontario, and Bryn Resources Inc., a Toronto company that claimed to be exploring for gold in Nova Scotia.

The arrest of Mr. Randles comes late in the case, with some of his co-accused already serving their sentences for the scheme. These include Harold Gallison Jr., the man who set up Moneyline. He pleaded guilty and on March 18, 2016, received 18 years in jail.

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