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by Mike Caswell

The U.S. Securities and Exchange Commission has secured a broker ban against Gregg Berger, the New York man who served several nominee accounts in a Vancouver-linked spam pump-and-dump scheme. The ban, contained in an administrative order handed down on Thursday, Feb. 9, stems from his role in helping clients dump $33-million worth of spam promoted stocks between 2004 and 2006. (All figures are in U.S. dollars.) The SEC says he fraudulently earned $684,542 in commissions.

Mr. Berger, 48, previously pleaded guilty to criminal charges for his role in the scheme and received a 24-month jail term, which he is serving at the Brooklyn Metropolitan Detention Center. He also agreed to forfeit $600,000. The case against him was part of a larger civil and criminal prosecution against a group of promoters. The SEC said the group, which included Vancouver's How Wai John Hui, used spam to pump eight thinly traded Chinese stocks on the OTC Bulletin Board and pink sheets.

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