On Monday, July 20, 2020, a pedestrian wearing a mask looks at a smartphone while passing by the New York Stock Exchange (NYSE).
Michael Nagel | Bloomberg | Getty Images
A general contractor in Minnesota admitted Thursday a plan to hijack a dormant shell company and then sold its shares on the over-the-counter market to unsuspecting investors.
Mark Miller (Mark Miller) is the second person to plead guilty in the shameless scam from 2017 to 2019, which involved the fraudulent acquisition of at least four listed companies with no effective Be able to submit the required regulatory documents.
His co-defendant, Christopher James Rajkaran, pleaded guilty to one count of conspiracy to commit securities fraud in the U.S. District Court in Minneapolis last week.
Miller pleaded guilty to the same charges in the court. Like Rajkaran, according to the plea agreement reached with the federal prosecutor, he will later be sentenced to dismiss the other 14 criminal charges.
Miller has no bail. But Rajkalan, who lives in Queens, New York, was detained for his ties with Guyana because he was at risk of flying.
The third defendant, Said Jabrian from Minnesota, has pleaded not guilty and is awaiting trial.
As part of the request, Miller agreed to confiscate $38,000 in ill-gotten wealth.
Federal sentencing guidelines recommend that he be sentenced to 30 to 37 months in prison and a fine of 10,000 to 100,000 US dollars.
But Judge David Dotti will determine Miller’s actual punishment at the time of sentencing.
At his guilty plea hearing, Miller gave a short answer, admitting that he understood the plea agreement, and detailed the prosecutor’s description of his criminal behavior.
“I feel guilty about what you have done,” Miller told the prosecutor.
The three defendants were accused in June of planning to use resignation letters purporting to come from others to control four shell companies-Digitiliti, Encompass Holdings, Bell Buckle Holdings, and Utilicraft Aerospace Industries.
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