$7M Pump-And-Dump Scheme Offenders Get Prison Time

Law360, New York (May 10, 2012, 9:00 PM EDT) -- A Florida federal judge on Thursday doled out prison time for two stock promoters, a securities attorney and a stock trader for their roles in a $7 million pump-and-dump scheme that defrauded investors in CO2 Tech Ltd.

U.S. District Judge Richard W. Goldberg sentenced New York attorney Michael Krome to 34 months in prison, while stock promoters Timothy Barham Jr. and Robert Weidenbaum received sentences of 30 months and 26 months in prison, respectively, for their roles in the scheme, prosecutors said.

In a separate case,...
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