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by Mike Caswell
New York prosecutors have won a $446,702 forfeiture order against Florida's Ubong Uboh, who pleaded guilty to charges arising from a scheme with four stocks, including Evolution Technology Resources Inc. of Toronto. (All figures are in U.S. dollars.) The government claimed that he and a co-defendant ran a scheme that inflicted $1.1-million in losses on investors, with most of them being seniors. Mr. Uboh, who used aliases such as Jonathan Goldman, pitched investors from a phone room in Florida over a two-year period, prosecutors said.
The penalty for Mr. Uboh, 44, is contained in an order handed down on Tuesday, Aug. 30, by a federal judge in New York. Should Mr. Uboh fail to pay, the order allows the government to pursue any property that Mr. Uboh owns. It also directs him to transfer the title of any such property to the government. (Prosecutors have not identified any particular assets, and it is far from clear if they will be able to collect any money from Mr. Uboh.)
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