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Keyword: stockborker

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  • Ex-Beverly Hills Stockbroker Sentenced to 6 Years in Prison for Role in $215 Million Portfolio-Pumping Stock Manipulation Scheme

    07/13/2020 3:52:48 PM PDT · by ransomnote · 5 replies
    justice.gov ^ | July 7, 2020 | U.S. Attorney’s Office Central District of California
    LOS ANGELES – A former Beverly Hills stockbroker has been sentenced to 72 months in federal prison for scheming to manipulate penny stock prices to inflate the reported profits of his co-conspirator’s hedge funds, generating millions of dollars in fees and commissions for himself, but causing investors to suffer more than $215 million in losses when the funds collapsed.          Todd Michael Ficeto, 53, of Marion, Ohio, was sentenced late Monday by United States District Judge Virginia A. Phillips, who also ordered him to pay $215,815,031 in restitution.          During a 17-day trial that concluded in July 2019, a jury found...