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SEC permanently bans former HD View CEO Mancino

2023-08-18 20:29 ET - Street Wire

Also Street Wire (U-HDVW) HD View 360 Inc

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by Mike Caswell

The U.S. Securities and Exchange Commission has permanently banned Dennis Mancino, the Florida man behind the $1.2-million pump-and-dump of HD View 360 Inc. (All figures are in U.S. dollars.) Mr. Mancino manipulated HD View by having a Canadian broker enter several manipulative trades and intended to pay kickbacks to boost the company, the SEC said. Unfortunately for Mr. Mancino, the scheme fell apart after he included an undercover FBI agent in his plans.

The ban for Mr. Mancino is contained in a proposed judgment filed on Friday, Aug. 18, in federal court in New York. The judgment permanently bans Mr. Mancino from penny stocks and imposes injunctions against future violations. Mr. Mancino must also pay a fine, with the judge to determine the amount. The judgment represents a negotiated settlement, and still requires court approval.

For Mr. Mancino, the SEC's case is just one of his legal troubles. He previously pleaded guilty to related criminal charges in New York. He received 15 months in jail, a sentence he has since completed, and was ordered to pay $1.2-million in restitution. (Prosecutors had sought up to three years in jail, pointing to the sophisticated nature of the scheme and contending that Mr. Mancino had been behind a prior manipulation for which he was never criminally charged.)

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