00:56:38 EDT Mon 16 Sep 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
U S Securities and Exchange Commission
Symbol U : *SEC
Recent Sedar Documents

SEC boiler room defendant Hardy facing 10 years

2019-09-11 10:26 ET - Street Wire

Also Street Wire (U-ICEIF) Intelligent Content Enterprises Inc

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Prosecutors in New York have asked for a 10-year jail term for Ronald Hardy, the manager of a boiler room that defrauded scores of investors, many of them senior citizens, of at least $14.6-million. (All figures are in U.S. dollars.) The government says that Mr. Hardy, 44, was a significant participant in a scheme that touted a handful of thinly traded companies, including onetime Canadian Securities Exchange listing Intelligent Content Enterprises Ltd. The stocks, which increased by a combined $147-million during the manipulation, later collapsed.

The request from prosecutors comes as part of a case in which the government pursued several people associated with a boiler room that operated in the New York area. The operation used what prosecutors describe as heavy-handed tactics, with cold-callers at times threatening investors in order to have them buy shares. Mr. Hardy's part in the fraud included managing the call centre and calling victims himself, using the aliases "John Gold" and "Steven Weiss," the government says. Mr. Hardy did not go on trial, as he entered a guilty plea on Aug. 22, 2018.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2019 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.