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Biocube defendant Rubizhevsky looks to avoid jail

2018-05-14 10:26 ET - Street Wire

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by Mike Caswell

Boris Rubizhevsky, a New Jersey man awaiting sentencing for the manipulation of a purported marijuana breathalyzer listing called Biocube Inc., has asked the judge not to give him any jail time for the fraud. He says that the company had a legitimate product and he had no intention of dumping his shares. He also points out that he is 67 years old and has had an "illustrious" career.

The charges against Mr. Rubizhevsky stem from a plan in which he and others, including a group of unidentified Canadians, were to boost Biocube with claims about its supposed marijuana breathalyzer. According to prosecutors, the group had shares poised for sale offshore ahead of the scheme. The plan failed because law enforcement officials learned of it and arrested the men before they could carry it out. Mr. Rubizhevsky pleaded guilty to a charge of conspiracy to commit securities fraud on Jan. 3, 2018, and faces a maximum jail term of five years.

With his sentencing date approaching, Mr. Rubizhevsky has submitted what he sees as an appropriate jail term for his crime. In a memorandum filed on Thursday, May 10, he describes himself as a model citizen who made "a few bad decisions" later in life. As with many defendants awaiting sentencing, he asks that the judge show him some leniency.

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