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SEC defendant Dills looks to avoid prison

2024-05-14 20:00 ET - Street Wire

Also Street Wire (U-ONPH) Oncology Pharma Inc

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by Mike Caswell

Kevin Dills, a California man who pleaded guilty to charges stemming from a $100-million scheme on the OTC Markets, has asked the judge to spare him jail. (All figures are in U.S. dollars.) He says that he is the "sole and irreplaceable" caregiver to his 13-year-old daughter, and that his "unique family circumstances" make home confinement the only suitable sentence. He requests that the judge impose a term of no more than 20 months of house arrest.

The request from Mr. Dills, 67, comes as part of a case in which prosecutors claimed that he was part of the Oncology Pharma Inc. pump-and-dump, which was run through a Canadian brokerage. The government claimed that he helped insiders illegally dump shares as promotional material touted the company as the "next biopharma stock poised to EXPLODE!" The selling came as the stock went to a $50 high. (It was last at 0.0001 cent.)

Mr. Dills set out his sentencing request in a memorandum filed on May 9, 2024, in federal court in Boston. The memorandum says little about Mr. Dills's crime, beyond setting out the basic elements, instead focusing on his role as a caregiver to his daughter, Emma. He says that there are no suitable alternative arrangements that could be made for Emma, as he has no living siblings or parents.

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