On Monday, July 20, 2020, a pedestrian passing in front of the New York Stock Exchange (NYSE) in New York is wearing a face mask and looking at his smartphone.
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A Minnesota general contractor pleaded guilty to a plan to hijack a dormant shell company and pump and dump their shares to unconscious investors on the over-the-counter market on Thursday.
Mark Millar is a serious scam involved in the fraudulent acquisitions of at least four listed companies between 2017 and 2019 that did not have an effective business and failed to submit to the required regulatory agencies for some time. The second person to be guilty of. ..
His co-defendant, Christopher James Radikaran, pleaded guilty to a single conspiracy to commit securities fraud in the US District Court in Minneapolis last week.
Miller pleaded guilty to the same offense in the court. Like Rajkaran, he will file 14 other criminal proceedings accused of being dismissed when he was later sentenced to prison, following a judicial transaction with a federal prosecutor.
Mirror is free with bonds. However, Radicalan, who lives in Queens, New York, is held in danger of flying because of his ties to the country of Guyana.
The third defendant, Saeed Javerian, Minnesota, has pleaded not guilty and is awaiting trial.
Miller agreed to confiscate $ 38,000 in fraudulent income as part of his plea.
Federal Judgment Guidelines suggest that he will be sentenced to 30 to 37 months in prison and a $ 10,000 to $ 100,000 fine.
However, Judge David Dotty decides on Miller’s actual punishment in the decision.
At his plea bargain hearing, Miller gave a brief answer acknowledging his understanding of the plea bargain and the explanation of his criminal activity detailed by the prosecutor.
“I’m guilty of the summary you went through,” Miller told the prosecutor.
The three defendants were charged in June with plans to take control of four shell companies (Digitiliti, Encompass Holdings, Bell Buckle Holdings, and Utility Aerospace Industries) using resignations from others. I did.
According to prosecutors, Miller and Javerian, and the unidentified persons associated with Miller, have become the nominal CEO and president of the target company.
Miller uses the Securities and Exchange Commission’s EDGAR public filing system and fake press releases to claim new business opportunities for these companies, even though they didn’t really have significant business or revenue. He admitted that he had soared the stock price.
Miller bought millions of shares of the company by him and his co-defendants, often for less than a penny per share, and sold many times the amount they paid in the over-the-counter market. I admitted that. they. Prosecutors said the trio had benefited from the plan in the hundreds of thousands of dollars.
When charged, Miller was involved in an effort to take control of Florida’s penny stock company, New World Gold Corporation. Mirror submitted by the SEC.
Less than two weeks after CNBC reported its involvement in New World Gold, Miller voluntarily withdrew its proceedings in Florida as part of its efforts to acquire New World Gold.
After being charged with criminal charges this summer, Miller resigned as a member of the city council in Breezy Point, Minnesota.
Stock hijacker Mark Millar pleads guilty to pump-and-dump
Source link Stock hijacker Mark Millar pleads guilty to pump-and-dump