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by Mike Caswell

Vancouver's Marco Babini has agreed to plead guilty to criminal charges he faces in the United States for a fraud on the OTC Markets with Endeavor Power Corp., which supposedly had a proprietary testing system for infectious diseases. Prosecutors claimed that he and others planned a scheme that included kickbacks, paid tout sheets and manipulative trading. Unfortunately for the men, they included an undercover FBI agent in their plans.

Word of Mr. Babini's guilty plea is contained in a letter to the judge that prosecutors filed in federal court in Boston on Tuesday, Dec. 12. The charge to which Mr. Babini will plead guilty is one count of conspiracy to commit securities fraud and wire fraud. Prosecutors have agreed that he will serve eight months of home confinement, which will be in addition to the time that he has spent under house arrest since his arrival in the U.S. five months ago. The sentence will, of course, be subject to the approval of the judge.

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