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by Mike Caswell
A federal judge in New York has imposed a 15-month sentence on Dennis Mancino, the Florida man who pleaded guilty to charges stemming from the $1.2-million pump-and-dump of HD View 360 Inc. (All figures are in U.S. dollars.) Prosecutors said that Mr. Mancino was behind a sophisticated fraud, one that involved an undercover FBI agent and an as-yet unidentified Canadian brokerage. He used the Canadian brokerage to enter manipulative trades and intended to boost the stock by kickbacks to brokers, among other things.
Mr. Mancino, 49, received his sentence in an appearance on Monday, June 7. In addition to the 15-month jail term, the judge ordered Mr. Mancino to pay $1.2-million in restitution and to pay $257,000 in forfeiture. The charge to which he pleaded guilty was conspiracy to commit securities fraud.
The 15-month term represents a partial loss for Mr. Mancino, as he had asked that the judge not impose any prison time. He said that he was a low risk to reoffend, pointing to statistics showing that those in his age group and with his education (high school completion) rarely land in trouble a second time. He also said that he did not abuse drugs or alcohol. Mr. Mancino further asked the judge to consider the fact that he has a teenage son who will have nowhere safe to live, should the case result in a jail term.
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