Penny-stock fraudster goes to federal prison
A Canadian crook who masterminded two multi-million dollar penny-stock fraud schemes was tossed in federal prison Wednesday for 6 ¹/₂ years.
Thousands of victims in 34 countries were duped by Stanley Winick, who ran a $140 million pump-and-dump operation and another scam that tricked investors into paying advance fees for bogus services.
“The enormity of it all is hard to get your arms around,” said Brooklyn federal court Judge Eric Vitaliano before sentencing Winick. “If I had a nickel for every time I heard the expression, ‘Another Sandy deal,’ I’d be a rich man.”
Winick, 58, of Ontario, was ordered to pay $2.4 million in restitution and forfeit $5 million.
Read more: http://nypost.com/2016/08/17/penny-stock-fraudster-goes-to-federal-prison/