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by Mike Caswell

Toronto's Sandy Winick has pleaded not guilty to criminal fraud charges he faces in New York for an alleged $140-million fraud. (All figures are in U.S. dollars.) He entered the plea in an appearance before New York Judge James Orenstein on Oct. 18, 2013, after being extradited from Thailand. The judge ordered that he remain in custody.

Prosecutors claim that Mr. Winick was the mastermind of a scheme that allegedly defrauded penny stock investors in 35 countries. He and eight others ran pump-and-dumps with 11 pink sheets and OTC Bulletin Board listings, selling tens of millions of shares while the companies issued false and misleading news releases, according to the government. They ran the scheme at least partly through boiler rooms in Thailand, prosecutors claim.

FBI

Sandy Winick

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