Philly Atty Pleads Out In $2M Stock Fraud Case

By Stewart Bishop (July 25, 2019, 7:36 PM EDT) -- A Philadelphia personal injury attorney charged for his role in a planned $2 million market manipulation scheme involving the stock of a company supposedly developing a marijuana breathalyzer admitted Thursday to withholding information from the IRS.

Lawyer Michael Garnick was accused with Chris Messalas, a former broker who was barred from the securities industry by the U.S. Securities and Exchange Commission in 2012, and BioCube Inc. CEO Boris Rubizhevsky of scheming to manipulate the price of BioCube stock.

Prosecutors say Garnick was the managing member of Admetus Capital Group LLC, a company Messalas used to secretly control stock in BioCube. In...

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