SEC target Georgiou receives 25 years
2010-11-19 18:20 ET - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
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by Mike Caswell
George Georgiou, the former Toronto broker convicted on criminal fraud charges in Pennsylvania, has received 25 years in jail and has been ordered to pay $55-million in restitution. (All figures are in U.S. dollars.) U.S. District Court Judge Robert F. Kelly handed down the sentence during a hearing on Friday morning.
The sentence comes nine months after a jury convicted Mr. Georgiou on a nine-count indictment for conspiracy, securities fraud and wire fraud. The government claimed that he caused $57-million in losses by manipulating four pink sheets companies between 2004 and 2008 and that he caused the demise of a Bahamian brokerage, Caledonia Corporate Management Group. The FBI arrested him in September, 2008, at the Ritz-Carlton hotel in Philadelphia, after one of his associates became a government informant.
Mr. Georgiou, 40, had sought a light sentence, arguing that the government was unfairly holding him responsible for losses that investors suffered as a result of a general decline in the market. He also asked the judge to consider the suffering that his wife and four children (one of which was born after his arrest) would endure if he received a lengthy sentence. He said that the judge should consider a jail term of nine to 11 years.
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What about John Briner, Jean-Francois Amyot, Dan Ryan, Norm Newsom and Tony Bisante? Are they next?
Posted by The Black List at 2010-11-19 18:50
GG should never had threatened to have that guy's legs broken to shut him up, its bad karma.
Posted by prison sex at 2010-11-19 19:54
25 years for a pump lol - Had he not placed those manipulative trades he could have avoided all of this and made only slightly less.
25 years is a long time for a few strokes of a keyboard.
Posted by Dan Ryan at 2010-11-19 22:42
I wonder if he's crying right now. Like, right this minute I wonder if he's silently weeping.
Posted by Bobby Genovese at 2010-11-20 01:53
Weeping yes, silently ....no.
Posted by Mr. Carino at 2010-11-20 02:45
Thats nuts that he gets that kind of time.In canada he could have killed someone and done less.If he gets a transfer to a canadain jial he will be out in 7 years.A heavy word to wise to all you fraudsters out there.Shocked at 25 years.
Posted by bill cundo at 2010-11-20 09:51
The SEC should investigate the scumbag crooks who pumped BINGO.COM to $13 per share 10 years ago, they should all be in jail as well.
Posted by Luxury Cigars Lit With $100 Bills at 2010-11-20 11:59
"The SEC should investigate the scumbag crooks who pumped BINGO.COM to $13 per share 10 years ago, they should all be in jail as well."
Bag-holders never forget.
Sorry, Elephants never forget.
Posted by Bobby Genovese at 2010-11-20 14:47
I dont think its right.He could have killed someone and would do less time.The American justice system is brutal.However this should make people think twice when touting stocks south of the border.I think alot of pumpers are in shock that you can get almost life for what he did.Mark Valentine got six months of home detention.People who helped GG ,in this should be very nervous.I feel the second leg is about to drop.Dont think that GG is going to rott away ,he should sing.
Posted by dino frenchesca at 2010-11-21 09:13
GG already sang, 25 years is a lot less than the 165 prosecutors were looking for.
Posted by Wall Street Only Stock Fraud Club at 2010-11-21 11:58
Haha, for every jackass in previous stockwatch threads who claimed GG wouldn't see a day in jail, I guess you were so very wrong.
Zero sympathy for his wife Karen, her name and signature were all over many of the trades and companies GG participated in, she was well aware of what was going on and had no problem with it when throwing her luxuries house parties in her multi-million dollar masion.
It's a shame for the kids, the family has been claiming for the last 2 years that he was 'framed' and innocent. It will be difficult to try and hold on to that view now. The kids will grow up knowing their father was a scumbag thief who didn't hesitate to take from others for his own personal gain.
Posted by What goes around comes around at 2010-11-21 12:00
What's worse for the kids is living with the knowledge of what Karen will do next.
Posted by Sleep with one eye open at 2010-11-21 12:17
GG should stop his crying and take it like a man!
Posted by Sam Antar (Convicted Felon) at 2010-11-21 14:17
A warning to the goyim, don't pee in other peoples' backyards.
Posted by Illuminati at 2010-11-21 16:38
This is the end of the mailer boys that made millions pumping otc stocks to dumb Americans.Who would be so brave to try a pump these days.I will snitch on all of you guys.
Posted by the goyim rule at 2010-11-21 16:45
Paper peddlers are worst scum in society, nothing but unconscionable blood sucking vampire maggot parasites. In China they put these people to death, won't resell organs, full of evil spirits, burn instead.
Posted by Wang Fung at 2010-11-21 17:52
Trent Jordan should get 1,000 years compared to GG's crimes.
Posted by Despicable Mailman at 2010-11-22 02:48
Trent Jordan hasnt done a pump in over a year.However the sec often goes as far back as 10.I have a feeling that GG knows Trent very well.My bet is Pierce goes first.Brockman maybe in the spot light aswell.All we need now is David Baines to pick up the phone and get the ball rolling.
Posted by fake tits at 2010-11-22 05:47
What is StockGroup AG's "interest" in Mercer Gold?
Don't forget Jamie King, he should be on the SEC's hit list as well.
Posted by Teflon at 2010-11-22 11:47
Has GG been sodomized yet?
Posted by soap on a rope at 2010-11-22 13:06
How long before penny stock fraud becomes a Capital offense?
Posted by San Quentin State Prison at 2010-11-22 17:41
I swear to freakin God you would instantly have every Vancouver scumbag thinking twice about their career choices of ripping sheeple off if the useless as dog chit BCSC was dishing out penalties like this un.
The SEC makes the BCSC look like useless retards ... oh yeah, I forgot, they ARE useless retards.
Case in point ... the ATW Gold scum sacks are doing it again, no problemos whatsoever citizen.
http://pennystockjournal.blogspot.com/
Put him in the same cell as Madoff. They can take turns been CATCHER and PITCHER.
The SEC should seek prison sentences for the crooks who run the BCSC who are partners in this fraud by allowing it to continue. To them illicit money flowing into BC is no different and from Pot, proceeds from crime is good for BC's economy.
Posted by IMET Tim Hortons Card at 2010-11-22 20:43
feel sorry for his kids
no dad for next 25 years
Posted by Buddy Georg at 2010-11-22 22:32
What happened to the mailer boys and their bling? You don't see them around as much anymore. Are they worried about something?
Posted by 507 Burrard Street at 2010-11-23 01:48
this bob genovese on this post, is this rick's brother? if so, isn't this the kettle calling the pot "black"? if georgie got your money, they should make a movie about him. he's the greatest!
Posted by palaceplace at 2010-11-23 17:26
@palceplace
What are you talking about? My last deal AMLM was a real company with real prospects, not like George's shell pumps.
See the "Capital Surplus" of AMLM, $14m, try finding another promote like that!
Posted by Bobby Genovese at 2010-11-23 20:38
Re: American Lithium Minerals Inc. (AMLM.OB)
Net Income Avl to Common (ttm): -10.65M
Total Cash (mrq): 34.35K
Where did all of the money go? There's barely enough left to buy and average car.
Obviously the people running these types of deals have no intention of building real companies, worst management you can possibly imagine!
Posted by Paid for Lifestyle at 2010-11-23 20:53
@Paid for Lifestyle
Not a mining guy, huh?
Of course we've spent money with no revenue to set it against, that's how mining works.
Raise Money, Spend Money - Hopefully find enough valuable resources to profit.
Pick up a book every now and again will you.
Posted by Bobby Genovese at 2010-11-23 21:13
..... yah, but spend the money on what???? LMAO!!!!!!
Posted by Swedish Touch at 2010-11-23 22:21
Properties, Drill Programs etc. If you ever hit the big time (like me) you'll see how expensive it all is.
Posted by Bobby Genovese at 2010-11-23 22:43
...sure....sure all the money goes into the company. Who are you trying to kid?????
The BCSC, SEC and CRA should check your bank account to see how it swelled in correlation to the $3 pump and dump in September-October, 2009!
Posted by Swedish Touch at 2010-11-23 23:14
whtas it like being high on crack all day?
Posted by Bobby knows its you at 2010-11-24 07:09
bobby, we all know that polo horses are very expensive, not to mention hair dye.
Posted by palaceplace at 2010-11-24 10:31
AMLM.OB was a blatant PUMP and DUMP in 2009 (over $70 million worth of paper traded), someone unloaded a massive amount of non disclosed insider stock. It should be fully investigated by the SEC. This crime is much larger than GG's.
Posted by Trading Records at 2010-11-24 12:54
People here seem to love to slag BG and TJ. They may be successful and this just drives you people crazy. The guy in jail, who may or may not have a virgin ass anymore paid undercover fbi, and put brokerage out of biz. So, perhaps you should think about it, if you want a reasonable comp, then why not focus on J Curshen and a big guy in Toronto, that seems to have an abundance of deals that crash and burn, big time. Is currently offering his tony forest hill home for 14 million. These guys you should focus on, they have hurt pros and punters for years and continue to do so
Posted by true idiots at 2010-11-24 18:03
American justice is coming after Canadian scammers with a vengeance. 10+ years of criminal activity is on the books. Many arrogant uppity paper bandits are still under the illusion they're untouchable.
Living off of their stolen money gives a false sense of security. One by one these swindling con artists are being hauled off to jail. Its about time.
Posted by Outstanding Warrants at 2010-11-24 18:52
When you have a TV show, you can talk to me:
http://www.hulu.com/bobby-g-adventure-capitalist
Posted by Bobby Genovese at 2010-11-24 19:17
BG, your day of reckoning is coming!
Posted by U.S. District Court at 2010-11-24 19:29
People wish they were as cool as Bobby.Tons of cash a hot women and a guy that knows his way around the street.He can't be shaken or black mailed and knows who the back stabbers are.He laughs at you fools.
Posted by bobby rocks at 2010-11-24 19:32
@U.S. District Court
The SEC don't have the balls to come after me.
I can put $10 Million into defending myself and not flinch.
I have the same attorney as Madoff (Ira Sorkin).
How do you like them apples?
Posted by Bobby Genovese at 2010-11-24 19:56
Where are all of the smug pumpers who claimed nobody ever goes to jail for penny stock fraud?
Posted by Fools at 2010-11-25 01:28
bobby, if that last post was really you, daring the s.e.c. to come after you, then you have really lost your cool.
there are people in wellington florida. who will be glad to take you up on the offer.
it is their money that you are spending.
Posted by palaceplace at 2010-11-25 11:03
bobby, if that last post was really you, daring the s.e.c. to come after you, then you have really lost your cool.
there are people in wellington florida. who will be glad to take you up on the offer.
it is their money that you are spending.
Posted by palaceplace at 2010-11-25 11:03
@ fools.
they are in canada and paying civil fines and admitting no wrongdoing. If GG wasnt sold out and made it back to Canada he would be fine. He may eventually of been extradited but it would of taken a long time.
Posted by j at 2010-11-25 11:16
Brent Pierce will be the next Canadian pump and dump criminal going to prison, and then Jean-Francois Amyot. Trent Jordan should be very afraid as well.
Posted by American Justice at 2010-11-25 11:42
I made $30 Million on AMLM lol.
All of it made selling undisclosed insider blocks of stock from offshore brokerages.
Here's a photo of me after AMLM:
http://imgur.com/R64dw.png
Posted by Bobby Genovese at 2010-11-25 14:30
http://mining101.blogspot.com/2009/11/american-lithium-amlm-scam-exposed.html
More details I CANNOT HELP MYSELF.
Posted by Bobby Genovese at 2010-11-25 15:04
maybe you should just put down the crack pipe.
Posted by brother ricardo at 2010-11-25 18:57
"US man sentenced to 25 years for drowning wife in toilet in 1999"
Its interesting the level of severity penny stock fraud has been elevated to!
Posted by 25 years for pumping paper at 2010-11-27 00:51
" Doing deals every day, more money than you and me, Bobby G" My partner in Toronto and myself could buy and sell Bobby G many times. Sadly, no reality show to chronicle our work.
Tino
Posted by Tino at 2010-11-27 20:46
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