Optimized Transportation Management, Inc.(fka OPTZ)

[Siforus]

Kevin P Brennan, Donald Huggins, Marc Seaver, charged in Optimized Transportation Management securities-fraud case

http://www.post-gazette.com/stories/local/region/man-charged-in-optimized-transportation-management-securities-fraud-case-638926/

June 4, 2012 4:33 pm

By Rich Lord / Pittsburgh Post-Gazette

A Pittsburgh-area man was among three charged criminally in Florida in securities fraud, and made his initial appearance at the U.S. Courthouse today.

Kevin P. Brennan, 60, whose address was not immediately available, was the chief executive officer of Optimized Transportation Management, which operated out of a Gulf Tower office until it was dissolved last month.

Mr. Brennan, Donald Huggins, 64, of St. Petersburg, Fla., and Marc Seaver, 50, of Tiburon, Calif., "are charged with engaging in a scheme to manipulate the publicly quoted share price and trading volume" of the firm's stock, according to a press release from Wilfredo A. Ferrer, the U.S. Attorney for the Southern District of Florida.

Details of the charge were not immediately available.

Mr. Brennan appeared before U.S. Magistrate Judge Lisa Pupo Lenihan to hear the reading of charges, two counts of securities fraud and one count of conspiracy to commit securities fraud, both in early 2010.

He was arrested this morning and released this afternoon on $50,000 unsecured bond. He declined comment upon leaving the courtroom.

Mr. Brennan told Judge Lenihan that he hopes to continue to live and work in western Pennsylvania and travel to Florida for court hearings.
Rich Lord: [e-mail] or 412-263-1542.
First Published June 4, 2012 4:32 pm