Guy Gentile, an owner of a broker-dealer in New York, was recently indicted on charges of securities fraud. Mr. Gentile is accused of participating in a pump and dump scheme that generated $17.2 million in trading proceeds. The scheme involved the manipulation of the share prices of Raven Gold Corp. and Kentucky USA Energy, Inc. If found guilty, Gentile can face up to twenty years in prison.
If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.
To read more, please visit: http://www.bloomberg.com/news/articles/2016-03-23/new-york-man-indicted-in-17-million-pump-and-dump-scheme