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by Mike Caswell

New York prosecutors have requested a three-year sentence for Lee Cohen, a Canadian-linked boiler room operator who defrauded investors of at least $1.2-million through an operation in the Philippines. (All figures are in U.S. dollars.) Prosecutor say that Mr. Cohen built a career out of helping would-be fraudsters steal money in exchange for a portion of the proceeds from their schemes. He lived a life of crime, bragging to an undercover agent about his 50 "hard workers" who would commit fraud on his behalf.

The request from prosecutors comes as part of a case in which they cited Mr. Cohen for the pump-and-dump of HD View 360 Inc., a scheme he participated in alongside two as-yet-unidentified Canadians. The government said that he was part of a conspiracy that involved manipulative trades and payments to corrupt brokers. His part in the fraud was to run a call centre in the Philippines that had 1,226 victims, prosecutors say. There was no trial for Mr. Cohen, as he pleaded guilty, leaving his sentencing as the only substantial matter for the judge.

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