https://www.youtube.com/watch?v=xLpfbcXTeo8
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In United States v. Parris, S2 05 Cr. 636 (FB) (E.D.N.Y.) -- a pump-and-dump case -- brothers Lennox and Lester Parris were convicted of securities fraud and witness tampering.
The Parrises issued false press releases -- this time concerning a penny stock company in which they were the sole directors. Following the issuance of the press releases, the stock price nearly doubled and volume surged. The Parrises profited by causing their company to issue unregistered shares to two stock-promotion firms that, in turn, sold the newly issued stock to the public for a total of approximately $4.9 million. Those companies then transferred $2.56 million to a bank account controlled by Lester Parris. Similar to Ware, when the SEC began investigating, the Parrises were involved with submitting a false statement in an effort to cover up their activities.
In August, Judge Frederic Block determined that the offenses resulted in a gain of more than $2.5 million, involved 250 or more victims, employed sophisticated means, and involved obstruction of justice. Because the Parrises went to trial, they did not receive any reduction for acceptance of responsibility. The advisory guidelines range was extreme: 30 years to life in prison.
Judge Block rejected the guidelines and sentenced each defendant to five years’ imprisonment. Judge Block called the guidelines range “draconian” and complained that the guidelines did “not provide realistic guidance.” Notably, the government agreed that an appropriate sentence might be “significantly less” than the applicable guidelines range.
Judge Block directed the parties to search nationwide for the sentences ordered in similar cases. Based on his analysis of these cases, Judge Block concluded that defendants in securities fraud cases responsible for losses of $100 million or less generally received sentences of less than 10 years After considering this, along with various other factors, Judge Block sentenced the Parrises to five years’ imprisonment.
Now. tell me about those "MANDATORY MINIMUM sentences in the Federal system again.
STEVEN YEHUDA MOSKOWITZ, CFO of SPNG - $52 million defrauded. CONVICTED of SECURITIES FRAUD.
0 months sentence. Probation only.
Tell yourself whatever you want to. I'm just telling y'all what is going to happen.
This is a typical example of an egregious pennystock scammer who went to trial and was CONvicted on multiple counts.
He gott 37 months. Richard Altomare is his name.
https://www.fbi.gov/miami/press-releases/2014/former-ceo-of-publicly-traded-company-sentenced-in-securities-fraud-scheme
"The SEC won a $25.7 million civil lawsuit in 2007 against Altomare and University Express over selling millions of unregistered shares and issuing misleading press releases."
And a lawyer who was convicted of momey laundering in a pennyscam: six months.
https://www.fbi.gov/newyork/press-releases/2014/florida-attorney-sentenced-to-six-months-in-prison-for-laundering-purported-stock-fraud-proceeds
Why quibble about the AS and the RS? There is ZERO fundamental value to this scam. ZERO.
Brokeass Basu is bust. There is no business.
All Brokeass Basu is doing is dumpster diving and begging for quarters and dimes to stretch her food supply until her EBT card is recharged in January.
The PPJE "office" is a shopping cart on Sixth St. and S. San Pedro in LA, heart of Skid Row.
Brokeass Basu 'raising funds' selling Class E shares for 25 cents a roll.
Bernie defrauded TENS OF BILLIONS of dollars and did it continuously over more than a decade, using extremely sophisticated methods to confuse the SEC and deceive them even under investigation.
That is nothing like Shkreli. This is his first rodeo - a few small scams. Nothing even close to Bernie.
Bernie ran his own MM shop - indeed he basically ran an exchange of his own.
Bernie Madoff is to Shkreli as Adolf Hitler is to Jodi Arias.
I follow a LOT of pennyscams and their criminal convictions that follow.
Shkreli will get somewhere around 5 years plus or minus 3. His lawyers will correctly argue that he is nott responsible for many of the market losses that are going to be ascribed to him by the DOJ.
When the dust settles, he'll do 5-8 years. Seen it all before in bigger pennyscams than this with CEOs and financiers who generated a lott bigger losses than this clown.
I mentioned 20 because the post I responded to cited the count of wire fraud and a 20 year MAXIMUM.
Regardless of which count(s) he pleads on or is convicted by jury on, he'll get concurrent sentences and 5-8 years tops.
That's just how it will play ~OUTT - BEST CASE.
I've also seen defendants who the FBI had in stings (FBI agent posed as a fund manager who would buy tens of millions of shares in a scam using his 'funds' money if the pennyscammer would kickback 15 percent to him). The DOJ had this guy dead to rights.
Jury acquitted him - because the defense lawyer (nott even a good one!) attacked the credibility of the FBI informant and told a story of how the local and Federal authorities were ~OUTT to gett this guy and set him up. I couldn't believe it, butt the jury lett him walk.
Don't discount the possibility that Shkreli might walk.
And review the amounts of money lost and Frank Quattrone's sentence. THAT'S what a good lawyer will do for ya. That lawyer is John Keker - the best of the best at these types of cases.
They are like blind people bidding on art paintings.
In the pennies especially. 99.999 percent are scams or wholly nonviable businesses that pay ~OUTT any income to insiders. If anything of value is generated, it is spun ~OUTT to insiders for nothing - shares that they will dilute to dust.
Even with the sentencing guidelines, he won't get anything close to 20 years. Nott even half of that.
dog turd cannon Tuesday, 12/29/15 04:05:21 PM
Re: 236T568 post# 3868
Post # of 3885
KBIO hasn't done anything at all. That is why it was heading to insolvency and liquidation before all this mess.
I am amazed people seem nott to understand this. Read the 'financials' and it's obvious as hell this was a scam with no hope of viability. It was a share-printing stock distribution scam designed to enrich insiders and scam the market. Nothing else.
UMMM, STEVEN YEHUDA MOSKOWITZ was convicted by his plea agreement and allocution to the court.
He was CONVICTED.
It was Metter who was nott convicted because of evidence handling by the DOJ.
Mosky is fully convicted.
https://www.law.cornell.edu/wex/federal_sentencing_guidelines
The Federal Sentencing Guidelines are non-binding rules that set out a uniform sentencing policy for defendants convicted in the United States federal court system that became effective in 1987. The Guidelines provide for “very precise calibration of sentences, depending upon a number of factors. These factors relate both to the subjective guilt of the defendant and to the harm caused by his facts.” Payne v. Tennessee, 501 U.S. 808, 820 (1991).
The Guidelines are not mandatory, because they may result in a sentence based on facts not proven beyond a reasonable doubt to a jury, in violation of the Sixth Amendment. United States v. Booker, 543 U.S. 20 (2005). However, judges must consider them when determining a criminal defendant's sentence. When a judge determines within his or her discretion to depart from the Guidelines, the judge must explain what factors warranted the increased or decreased sentence. When a Court of Appeals reviews a sentence imposed through a proper application the Guidelines, it may presume the sentence is reasonable. Rita v. United States, 127 S.Ct. 2456 (2007).
Sorry dude, there is NO MANDATORY prison sentence in the Federal system.
Those are sentencing GUIDELINES. The Federal judge as full discretion.
DO those numbers on Steven Moskowitz with $52 million lost in SPNG according to the SEC and DOJ.
ZERO prison time.
There is NO MANDATORY SENTENCING in the Federal system. NONE.
"It will trade on the Grey Market if they register with the OTC."
LOLOLOLOL!!! OK, let us know than they 'register with the OTC' so that grey market trading can start. LOL!!!!
Hay, maybe Czech the blue sheets and find all the NSS!
Bwhahahahaha!
LOL - that was the STUPIDEST idea ever. Well, other than KBIO.
Physics doesn't lie, butt many people believe otherwise.
There are still peeps who throw money at perpetual motion scams.
That's why I love iHub and reading peeps posting on penny tech scams that they have NO CLUE about the technology and even very basic science.
They are born more frequently than every minute now.
Shkreli is totally a sociopath. Of that there can be zero doubt. Listen to his interviews.
WRONG! There is NO MANDATORY SENTENCE in the Federal system.
That is the MAXIMUM sentence.
VWAP today looks to be 0.00655 or so.
Or how much MORE fat Jeffy Benz is. He will have a rough time fitting on the standard BOP prison bunk.
BIG Bennie Blankenship is under investigation by the SEC and DOJ for his involvement in FNRG. As soon as Richard St. Julien (arrested and indicted chairman of FNRG) cuts a plea agreement and rolls over on BIG Bennie, it's only a matter of time until Bennie is charged too.
Every single one of his 'alerts' and Top Ten picks is down 90 percent or more. In the words of the FBI affidavit in FRNG, he was a compensated pumper or in the FBI's words - "the corrupt stock promoter".
LOL - like Dan Pike, right? Bwahahahahaha!!!
"It will trade on the Grey Market if they register with the OTC."
ABSURD! There is no "OTC registration" involved in grey market transactions. That shows a complete misunderstanding of what the grey market is!
Sheesh!
"care to tell us what is the typical jail sentence for people that get convicted for massive money laundering into the tens of millions of dollar?"
Sure, Steven Moskowitz (SPNG) - 0 years in prison.
Convicted of $52 million securities fraud.
FDIT - ending the year on a 52-week low and falling at an increasing rate. Trip zeroes coming in 1Q2016.
So does this mean that Flo Rida and Lenny Kravitz didn't send a Christmas card to old crook Alfie?
APWC is actually sourced from the tears of HIPH investors who have basically lost it all since the last 1 for 1000 RS.
LOGG now down 86.15 percent for the year. Still falling like a set of car keys from the hand of a drunk trying to open his car door after a blowout New Years' Eve party until the wee hours of the morning.
Three more trading days - this should break down 90 percent or more by then.
LOGG is a total turd. ZERO fundamental value, no matter how you try to run a valuation on it.
2016 will bring the trip zeroes and maybe 0.0001/NoBid.
"Just received an email from PPJ."
Czech the headers. The IP addy is likely either a free public library or a homeless shelter.
Maybe a McDonalds or a Starbucks near Pershing Square (where you can websurf for free without even buying their vile coffee products).
Brokeass Basu is bust.
"The guy is 30 something has millions and was ceo of 3 different pharmas. Definitely successful at what he was trying to do"
No he really wasn't, IF he was trying to be an effective biopharma CEO. He failed at that miserably.
However, if his goal was to make a bundle issuing himself stock, acquiring low-priced stock and pumping it then selling it, stealing money from market suckers, then he was successful for that goal.
I know a lott (I mean in the hundreds) of biotech/biopharma/pharma/medical device CEOs (current and former) - personally and often in great depth, and Shkreli is definitely in the bottom 10 percent - at best.
He didn't CREATE anything. He just built a huge Ponzi scheme (or check-kiting scheme if you prefer that analogy).
His only success is that he will make an episode of American Greed.
Wrong. There is no 20 year "mandatory minimum" sentence involved at all. If convicted, the judge computes the sentencing guidelines based on several factors - prior convictions within the last 10 years, pre-sentence investigation report, amount of financial loss to victims (nott very much based on his charges).
He may get 60 months, tops. He's a first-time felon and the amounts alleged in the indictment are fairly small potatoes, even by pennystock scamster standards.
The jury convicts, butt the judge sentences and will generally follow the sentencing guidelines plus or minus. Otherwise, the sentence is likely to be overturned on appeal and resentencing ordered.
No way in hell Shkreli gets anywhere near even 10 years for this.
Now, if they ADD counts and monetary losses in a superseding indictment, then all that may change. Butt now, prolly 5 years is what he's facing - realistically.
If the DOJ and SEC are able to add further counts/claims that expand the financial loss calculation, then all bets are off because under some theories, this could get into the tens to hundreds of millions range. Which would be a loooong sentence.
But there is no 'mandatory minimum' sentencing involved here.
Could make subpenny by Thursday close. C'mon, NUUU, you can break into Subpennyland this week!
You've gott all those endless floorless convertible notes to drive the Death Spiral into the dirt.
2016 will bring NUUU to 0.0001/No Bid.
There is exactly ZERO value in Scimeca's snakeoil scam. ZERO.
Awwwww-right, since Timmy "Minus Ten Bagger" Vance didn't deliver on the pre-Christmas PR to boost his suffering investors' hopes, I'll put together a fictional one - 'to keep hope alive'.
(Friendswood, TX - 25 December) - Tim "Minus Ten Bagger" Vance, CEO of Data Cult Teknawlagees, today announced a new product offering in the real-time data streaming arena. "We at Data Cult will be introducing streaming sports coverage - including cricket, rounders, rugby, and badminton coverage and scores - to many pager models. We believe that the smartphone revolution is over and people will soon be migrating back to pagers, and Data Cult will be there on the ground floor for them." said Bagger Vance. Data Cult will be the first streaming service to livestream scores from cricket matches all across Sri Lanka and the Nicobar and Andaman Islands. Vance added, "no other data streaming service is as well-positioned in these emerging markets to capitalize on the coming wave of pagers as is Data Cult. The Sri Lankan market is a huge, untapped market for pagers and streaming ticker cricket scores."
Data Cult Teknawlagees, based in a 700 sq ft. rarely manned micro-office rented in a strip mall in Friendswood, Texas, is a rarely traded pennystock (with an as-yet undetermined ticker) focusing on something to do with signs and stuff - and now pagers in Sri Lanka, with a principal business of attending trade shows and stuff and things like that. And so on.
If Timmy won't PR some pablum about some revolutionary breakthrough product or technology coming ~OUTT of the Lunatic Labz hidden away in the 700 sq ft closet rent-a-office that is rarely manned, I may be forced to concoct some tech/product story and post it. Just to boost DCLT's suffering shareholders through the holidaze with some fake hope for the future.
C'mon, Timmy - you can PR something new. It's been since 2013 that DCLT has been pushing the same ole BS story and it's nott working. The balance sheet is deteriorating.
You need some sizzle, Tim. A fresh new product. A patented tech or something. Anything.
If you can't PR something today for your poor shareholders, I'll post some spirit-lifting story for them as a Christmas present. Nobody should be sad over the holidaze. Even empty hope for them to cling to will do to gett past this time when people need to feel good.
Please man, just one PR before Christmas!
There is a lott of munny gonna be lost in the collapse of this scam.
KBIO will be under a buck in weeks, into the single digit pennies by summer, bankrupt by fall.
Next Christmas, this dog will be liquidated in Chap 7 with all assets sold off and it'll be a zombie ticket.
That was all part of the scam. Usually is in these mining scams. The giveaways are that while all the equipment is scratched and dusty, everything with the company logo on it - from signage to hardhats - is pristine without a scratch or a spot of mud or even dust.
It's common in these mining scams to do that. Videos, pics, etc. - butt the scamco own none of it and has no license rights or leases. They simply bribe mine personnel (or oil well riggers, in the case of the older petroleum pennyscams) to come on the site and pose for pictures and shoot video.
It's a very old and common play in the pennyscam playbook.
Fake documents are too. All very old game plays.
Oh man, that's totally bull.
"I guess that I am in Basu's head"
That must be lonely in there with all that empty space, and dark except for the occasional shafts of sunlight coming in through her ears when it's warm enough for her to take the hood down and she digs ~OUTT the impacted earwax.
Must be quite the echo chamber in there.
And after this RS, it will be back at 0.000001 within two weeks, four at the most.
Brokeass Basu has zero credibility with anyone that has any sense.