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USA v. Discala et al

  1. June 22, 2023

    2nd Circ. Affirms Ex-OmniView CEO's Penny Stock Conviction

    The Second Circuit on Thursday declined to overturn the conviction of Abraxas J. Discala, the former CEO of OmniView Capital Advisors LLC, over a pump-and-dump scheme that ended with an 11.5-year sentence and a $16.3 million restitution order.

  2. May 27, 2022

    Ex-Startup CEO Gets Prison For Stock Pumping

    The former CEO of CodeSmart Holdings Inc. on Friday was sentenced to 21 months in prison for his admitted role in a pump and dump scheme that prosecutors say artificially inflated the stock price of the purported medical coding educational company and boosted its market capitalization to $86 million.

  3. December 09, 2021

    Ex-OmniView CEO Gets 11 Years For Penny Stock Fraud

    The former CEO of financial services firm OmniView Capital Advisors LLC was sentenced to 11 years in prison Wednesday after a jury convicted him of helping lead a pump-and-dump scheme, according to Brooklyn federal prosecutors.

  4. July 12, 2018

    Twice-Charged Ex-Broker Gets Sentence He Bargained For

    A Brooklyn federal judge sentenced a former broker who pled guilty to two stock manipulation schemes to a little more than three and a half years in prison on Thursday, rejecting prosecutors' bid to put him away for five years.

  5. July 10, 2018

    Feds Want Max Prison Time For Broker's Stock Schemes

    A former broker caught in two separate market manipulation schemes that caused more than $50 million in intended investor losses should receive concurrent sentences of 60 months and 51 months, prosecutors told a New York federal judge on Monday, saying his low-ball bid for only 41 months ignores the seriousness of his crimes.

  6. June 28, 2018

    Broker Accused Of Obstructing $300M Stock Fraud Probe

    An investment broker was indicted Wednesday on new charges he lied to investigators while they were looking into his co-conspirators' involvement in a $300 million market manipulation scheme, documents filed in New York federal court show.

  7. May 25, 2018

    Broker Busted In $300M Stock Fraud Asks For Lighter Penalty

    A former broker tied up in a $300 million market manipulation scheme that involved using an attorney escrow account to make trades on Thursday asked a New York federal judge for no more than 41 months in prison, saying his role in the scheme was small.

  8. May 04, 2018

    Atty Acquitted, CEO Convicted In $300M Stock Fraud Trial

    A New York jury on Friday issued a split verdict in a trial over a multifaceted $300 million market manipulation scheme, clearing Las Vegas attorney Kyleen Cane of any wrongdoing, but convicting former financial services firm OmniView Capital Advisors LLC CEO Abraxas J. Discala on fraud and conspiracy charges.

  9. May 03, 2018

    Vegas Atty Calls Stock Fraud Trial Witnesses 'Serial Liars'

    Jurors in the trial of a Las Vegas attorney and the former CEO of a financial services firm accused of participating in a $300 million market manipulation scheme involving microcap companies heard that the Cane Clark LLP partner wasn't involved in any fraud, despite the claims of "serial liars" that cooperated with the government.

  10. May 01, 2018

    Talk Of Screwing Investors Was Just A Joke, Broker Tells Jury

    Alleged investment scammer Abraxas "AJ" Discala tried to tell a Brooklyn federal jury on Tuesday that he was an honest businessman, but prosecutors confronted him with texts in which he chatted about moving stock prices and recordings in which he joked about screwing investors.

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