Fla. Penny Stock Pump-And-Dumpers Cut Deal

Law360, New York (January 6, 2011, 6:48 PM EST) -- Two Florida penny stock promoters accused of paying kickbacks to undercover FBI agents as part of a pump-and-dump scheme to artificially inflate stock prices have waived their indictment and cut plea deals.

The waivers of indictment were filed Wednesday in the U.S. District Court for the Southern District of Florida. Change-of-plea hearings in both cases are scheduled for Jan. 14.

The U.S. Department of Justice filed the criminal informations against stock promoters Louis Fischler and Joshua Konigsberg on Dec. 12, accusing the men of paying illegal...
To view the full article, register now.