SEC target D'Amaro sentenced to three years
2010-09-22 14:09 ET - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-PLYCF) Playstar Corp
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by Mike Caswell
A Delaware judge has sentenced Gerard D'Amaro, the Florida man who pleaded guilty to charges stemming from the pump-and-dump of Ontario-based Playstar Corp., to three years in jail. He learned his sentence in an appearance before Judge Sue Robinson on Sept. 8, 2010.
Mr. D'Amaro reached a deal with prosecutors earlier this year, in which he agreed to plead guilty to two counts of a four-count fraud indictment. The charges were for helping to manipulate Playstar and other stocks with on-line postings and wash trades. In addition to the three-year sentence, the judge ordered Mr. D'Amaro to forfeit $1.49-million in proceeds of crime. (All figures are in U.S. dollars.)
Mr. D'Amaro was one of several men facing both civil and criminal charges stemming from a two-year investigation into stocks promoted on the Investors Hub website. Those arrested included Investors Hub operator Matthew Brown. He pleaded guilty to criminal securities fraud and money laundering charges on Feb. 17, 2010, and awaits sentencing.
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Well I must say that the top regulator in the Americas has once again done a bang up job. Lots of people rounded up and doing serious time. Being a former shareholder time, I was introduced to the deal while visiting Toronto at the four seasons hotel. The two guys met aren't named, one was the president of the company named Stuart ( whom I recall reading before did issue false and misleading news), the other man was named Mark. He was supposed to be the largest shareholder ( via nominee accounts in Curacao), as he also is banned from trading. If anyone can tell me why these two gents seem to be invisible, I would be delighted to read it. These guys fleeced my group for a few hundred grand. Subsequently, I avoid Toronto like the plague. But I don't understand how a guy that did time in Germany and Florida and is banned from trading is actively practicing his craft and leaving casualties like me by the dozens. I am told that he drives a brand new porsche and laughs at all the punters who believe his stories.
Posted by toby heart at 2010-09-22 16:41
mark valentine was the largest shareholder yet they leave him out.why you might ask
Posted by gino cicerelly at 2010-09-22 20:01
i dont see any vancouver guys going to jail.live in west van and you got a get out of jail free card
Posted by keep it real at 2010-09-23 05:56
seems that mark valentine is very active in the Us penny world.Yet people around him get busted and not him.It would seem he has a stay out trouble cause in his contract.He was banned and laughs at the sec,or is he buddy buddy with them.
Posted by hys steak house gossip at 2010-09-23 06:39
Who really cares about Janice Shell?
Shouldn't the eyeballs on this site wonder why a guy charged and convicted with securities fraud and subject to a lifetime ban is not the subject of conversation. In addition a corrupt president of playstar sending out fake news and of all those charged rthey are nowhere to be found. I guess if you are the son of a diplomat you are exempt or maybe just a rat.
Posted by Lomax at 2010-09-23 18:40
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