Tuesday, February 3, 2009

Florida CEO Arrested For Securities Fraud

Gary L. Brown, 60, of Sarasota, Florida, was arrested today on securities fraud charges in connection with an alleged scheme to artificially inflate the price of shares of Skylynx Communications, Inc., for which he served as CEO. According to the complaint, Brown, along with co-conspirators Joseph F. Morgan and Edward McPhee, acquired a significant number of Skylynx shares and then proceeded to "drive up the value" of the shares.

Read the story here, here and here.

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