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Three Defendants Sentenced For Conspiracy To Commit Securities And Email Fraud
A Sarasota, Fla., man has been sentenced to five years in prison and two years of supervised release for conspiring to commit both securities fraud and email fraud stemming from stock manipulation scheme involving four publicly-traded companies – Masslick Inc., eDollars Inc., Emerging Holdings Inc., and China Score Inc. – Assistant Attorney General Alice S. Fisher of the Criminal Division and U.S. Attorney Chuck Rosenberg for the Eastern District of Virginia announced today.
Stephen P. Luscko, 39, was sentenced today in federal court in Alexandria, Va. Luscko’s co-conspirators included Gregory Alphonse Neu, 30, of Boca Raton, Fla., and Brian George Brunette, 29, of Miramar, Fla., who were previously sentenced for their roles in the stock manipulation schemes. Neu was sentenced to five years in prison and three years supervised release; Brunette, who only participated in the stock manipulation scheme involving Massclick, was sentenced to one year and a day in prison and three years supervised release. The District Court will resolve outstanding restitution issues on June 8, 2007. The government has seized more than $3 million from bank accounts associated with the co-conspirators. Read more at usdoj.gov.
Yield to Maturity is defined
Yield to Maturity: The rate of return an investor receives if a fixed income security is held to maturity.
Securities News
Latest news about securities cases in Maine and nationwide:
Federal Authorities Seeking Fugitive
The United States Attorney’s Office today announced that FRANK R.V. LOOMANS, 37, of Atlanta, Georgia, formerly manager of investor relations for Co... Read more >
Definition:
Liquidation of a debt through installment payments.
Ponzi Scheme
Definition:
Named after Charles Ponzi, a man with a remarkable criminal career in the early 20th century, the term has been used to describe pyramid arrangements whereby an enterprise makes payments to investors from the proceeds of a later investment rather than from profits of the underlying business venture, as the investors expected, and gives investors the impression that a legitimate profit-making business or investment opportunity exists, where in fact it is a mere fiction.
Equity
Definition:
As used on a trading account statement, refers to the residual dollar value of a futures or option trading account, assuming it was liquidated at current prices.
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