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by Mike Caswell

Four of the accused in a $147-million manipulation scheme that preyed on elderly investors have pleaded not guilty. (All figures are in U.S. dollars.) They entered the pleas in an appearance on Monday, July 31, before New York Judge Joanna Seybert. She allowed the four to remain free on bond.

Prosecutors claim that the four were part of a scheme to manipulate five thinly traded companies, including former Canadian Securities Exchange listing Intelligent Content Enterprises Inc. The four defendants, along with nine others, allegedly participated in an operation that cold-called seniors and others and had them buy millions of shares. The group aggressively and repeatedly called victims, according to the government.

Those entering pleas on Monday were Jeffrey Chartier, Lawrence Isen, Michael Watts and Robert Gleckman. The government claims that the four were orchestrators of the scheme. They allegedly acquired large share blocks in the companies and hired the boiler rooms to fraudulently boost the stocks. The four were arrested on the charges on July 12, 2017. They are free on appearance bonds ranging from $50,000 (for Mr. Chartier) to $500,000 (for Mr. Watts).

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