The Financial Post reports in its Tuesday edition that a Vancouver man has pleaded guilty in U.S. Federal Court for orchestrating a pump-and-dump scheme involving a biomedical penny stock. Postmedia's Cheryl Chan writes that Marco Babini, 62, pleaded guilty Wednesday to one count of conspiracy to commit securities fraud and wire fraud, said the U.S. Attorney's Office, District of Massachusetts. Mr. Babini was indicted in September, 2015, for allegedly conspiring to manipulate the share price of Endeavor Power Corp. in 2012 and 2013. U.S. authorities alleged Mr. Babini and a co-conspirator used a Swiss trustee and foreign accounts to conceal control over shares of Endeavor and artificially inflated the share price from seven cents to 25 cents. Mr. Babini agreed to make prearranged trades with an undercover agent posing as an individual with a corrupt network of stockbrokers with the goal of raising at least $200,000 (U.S.), said the U.S. Attorney's office. In December, 2012, Mr. Babini tried to execute a test trade worth $20,000 (U.S.). On March 8, 2013, before the covertly owned shares could be sold on the market, the Securities and Exchange Commission suspended Endeavor. His sentencing is scheduled for March 14.