" Department of Justice U.S. Attorney’s Office District of Minnesota
FOR IMMEDIATE RELEASE
Thursday, January 27, 2022
New York Stock Promoter Sentenced to Prison for “Pump and Dump” Securities Fraud Scheme
MINNEAPOLIS – A New York man has been sentenced to 18 months in prison for his role in an illegal pump-and-dump stock manipulation scheme. Acting U.S. Attorney Charles J. Kovats made the announcement after Senior U.S. District Judge David S. Doty sentenced the defendant.
According to court documents, Christopher James Rajkaran, 36, of Queens, New York, and Guyana, participated in a scheme to hijack and assume control over dormant public shell companies. Rajkaran and his co-defendants used their control over the companies to fraudulently manipulate and pump up the price of the companies' stock so that they could profit from the sale of stock at inflated prices to unwitting investors.
According to court documents, Rajkaran and his co-defendants carried out the scheme by obtaining hundreds of thousands or even millions of shares of stock in dormant public shell companies that traded over-the-counter at low prices, often for less than a fraction of a penny per share.
Rajkaran and his co-defendants then assumed control over the shell companies by creating and filing fake resignation letters and board resolutions purporting to announce the resignation of the existing management team and the appointment of one or more conspirators as new officers and directors of the companies.
Rajkaran and his co-defendants used their control over the hijacked shell companies to issue fraudulent press releases and filings designed to fraudulently “pump up” the price of the hijacked companies’ stock. Rajkaran and his co-defendants then “dumped” their stock by selling at the fraudulently inflated prices to reap the fraudulent obtained profits.
On October 7, 2021, Rajkaran pleaded guilty to one count of conspiracy to commit securities fraud. On October 14, 2021, co-defendant Mark Allen Miller, 44, of Breezy Point, also pleaded guilty to one count of conspiracy to commit securities fraud. Co-defendant Saeid Jaberian, 60, of Hopkins, has pleaded not guilty to conspiracy, securities fraud, and wire fraud charges.
This case is the result of an investigation conducted by the U.S. Postal Inspection Service and the FBI. The U.S. Attorney’s Office would also like to thank the Securities and Exchange Commission for its assistance on this matter.
Assistant U.S. Attorneys Joseph H. Thompson and Miranda E. Dugi are prosecuting the case. "
NEW WORLD GOLD CORP. (NWGC)
Relevant DD on $NWGC Reinstatement potential
1- THE COMPANY HAS HAD COURT PROCEEDINGS over the past week and it’s at the last phase of what appears to be a potential reinstatement from the majority shareholders.
2- WHY would this be happening now? That’s what I asked myself and then decided to reach out to the attorneys and court mentioned to see if I can get any more info. As a shareholder myself - why not? It is my strong opinion - that people don’t go to the lengths of actually paying all the filing fees to order this shareholder meeting injunction if they aren’t serious in actually REVIVING exisitng operations or ...REVERSE MERGING an ENTITY IN. What’s even more intriguing is the industry here. Existing mining claims potential.
AFTER CAREFUL REVIEW OF THE ASSOCIATED DOCUMENTS FILED- I’m confident we are staring
at a reinstatement as early as APRIL 06, 2021 IMAGINE WE GET AN 8K EARLY NEXT WEEK
not only confirming the REINSTATEMENT - but also gave us direction on where this is
headed?
LET US TAKE A CLOSER LOOK at the shareholder annual meeting request due to negligence and failure to meet. This is a very typical set up to proper takeover and reinstatement-
1. COURT DEFAULT JUDGMENT ORDERING SHAREHOLDERS MEETING FOR NWGC APRIL 06, 2021
2. SHAREHOLDERS MEETING VOTING MARK MILLER IN AS CEO AND SOLE DIRECTOR OF NWGC
