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swanlinbar

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swanlinbar

Re: fatbacker post# 347

Friday, 11/24/2006 11:40:00 AM

Friday, November 24, 2006 11:40:00 AM

Post# of 9304
Former executives in Cranford admit to defrauding investors
Friday, November 17, 2006
BY JOHN P. MARTIN
Star-Ledger Staff
Two former executives of a Cranford-based technology firm yesterday admitted defrauding 40 investors who poured $5 million into the company after being told it was ripe for a takeover or public stock offering.

During a hearing in federal district court in Newark, R. Kevin Holt and Robert Henches said they conspired to inflate the net worth of InsPara Networking Technologies to lure money for their fledgling company.

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Both men pleaded guilty to fraud charges before U.S. District Judge Peter Sheridan. Holt, 53, of Cranford, faces more than 30 months in prison under sentencing guidelines. Henches, 61, of Mont ville, faces more than 46 months. Sheridan ordered both to return for sentencing in March.

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And so we are told this is the golden age
And gold is the reason for the wars we wage(U2) http://www.mikros.us/ M http://investorshub.advfn.com/boards/board.aspx?board_id=1308

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