Ex-SEC Employee Denies Role In Boiler Room Scam

Law360, New York (September 15, 2010, 6:13 PM EDT) -- Former U.S. Securities and Exchange employee Steven Kimmel has pled not guilty to charges that he participated in a boiler room scheme that defrauded investors of more than $12 million.

Kimmel, CEO of Realcast Corp., entered the plea in the U.S. District Court for Southern District of New York on Monday. His 12 co-defendants implicated in the fraud have also pled not guilty to securities fraud, wire and mail fraud, and conspiracy.

Prosecutors allege Kimmel and the other defendants convinced investors to buy shares of video...
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