Nutraceutical Stock Promoter To Pay Over $2M

Law360, New York (May 15, 2008, 12:00 AM EDT) -- A federal court has ordered a stock promoter to pay more than $2 million for his role in a pump-and-dump scheme involving Nutraceutical Clinical Laboratories International Inc. stock, the U.S. Securities and Exchange Commission announced Wednesday.

Judge Elizabeth A. Kovachevich of the U.S. District Court for the Middle District of Florida ordered the remaining defendant, Kerry P. Kennedy, who orchestrated the fraudulent promotion of Nutraceutical's stock, to disgorge $1.685 million in ill-gotten gains and pay a $400,000 civil penalty. He is also barred from offering stocks....
To view the full article, register now.