Stock Promoter To Serve 3 Years For Bribery Scheme

Law360, New York (May 3, 2012, 5:57 PM EDT) -- A New York federal judge on Thursday handed a three-year prison sentence to a stock promoter accused of manipulating the market for renewable energy company Industrial Biotechnology Corp.'s stock as part of a broker bribery scheme involving an undercover agent.

U.S. District Judge Paul Gardephe said Bruce Grossman should face prison time because this is not his first conviction for fraud, and said he did not hand down a longer sentence because Grossman has provided significant assistance in the cases against others involved in the scheme....
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