Wednesday, March 11, 2009

Arizona Attorney Pleads Guilty To "Pump & Dump" Stock Manipulation Schemes

David B. Stocker, 49, of Phoenix, Arizona and an attorney by training, pleaded guilty to securities fraud charges admitting that he defrauded investors in a number of "pump & dump" stock manipulation schemes involving 19 publicly traded companies. Those companies include: eDollars Inc; Emerging Holdings Inc.; MassClick Inc.; China Score Inc.; American Television and Film Company Inc.; Auction Mills Inc.; Custom-Designed Compressor Systems Inc.; Ecogate Inc.; Media International Concepts Inc.; Vanquish Productions Inc.; AVL Global Inc.; Motion DNA Corp.; PokerBook Gaming Corp.; TKO Holding Ltd; Body Scan Inc.; Integrity Messenger Corp.; Beverly Hills Film Studios; IFINIX Inc.; and V3 Global Inc. Stocker had been the subject of three SEC actions - 2 in 2007 and 1 in 2008 - for his involvement in penny stock fraud schemes involving some of these companies. In at least one case, Stocker had a co-conspirator, Phillip W. Offill Jr., a Texas lawyer, who allegedly set up a sham corporation at Stocker's direction. Stocker is set to be sentenced on November 6, 2009 and faces up to 5 years in prison, plus a fine of $250,000 for his involvement in these stock manipulation frauds.

Read the story here.

Read the DOJ's announcement here.

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