Spongetech Delivery Systems, Inc. (fka SPNGQ)

[scion]

Spongetech's 'Unwitting Dupe' Gets 5 Years' Probation
By Keith Goldberg

Law360, New York (October 17, 2011, 9:48 PM ET) -- A New York federal judge on Monday sentenced a marketing consultant to five years' probation for lying to prosecutors about his role in helping Spongetech Delivery Systems Inc. cover up an alleged pump-and-dump scheme.

George Speranza, an independent consultant hired by Spongetech to market its products, copped to one count of perjury in May, admitting to prosecutors that he lied during a U.S. Securities and Exchange Commission investigation about helping the soap-filled sponge maker mislead shareholders with fake client websites.

Speranza faced up to five years...

http://www.law360.com/securities/articles/278649?nl_pk=c9a3f3fe-4e51-40bd-a130-3121cf67663a&utm_source=newsletter&utm_medium=email&utm_campaign=securities