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SEC defendant Isen facing 20-year jail term

2022-04-13 20:40 ET - Street Wire

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

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by Mike Caswell

New York prosecutors have asked a judge to impose a 20-year jail term on Lawrence Isen, one of those convicted for a boiler room operation that defrauded seniors and others of at least $15-million. (All figures are in U.S. dollars.) The group boosted four stocks, including Canadian Securities Exchange listing Intelligent Content Enterprises Inc., through a cold-calling operation that ran over a four-year period. Mr. Isen, who has decades of stock fraud expertise, "routinely and relentlessly" lied to investors for personal financial gain, the government says.

The request from prosecutors comes as part of a long-running case that the government has pursued against Mr. Isen, 68, and others for a New York boiler room operation. Prosecutors claim that the group aggressively solicited investors, including many seniors, calling as often as five or six times a day. A jury in New York convicted Mr. Isen after a 17-day trial on charges that included money laundering conspiracy, wire fraud conspiracy, securities fraud conspiracy, securities fraud and money laundering, with the verdict arriving on March 18, 2020.

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