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4 Plead Not Guilty In Alleged Penny Stock Fraud Scheme

2014-09-12 12:19:57| Apparel - Topix.net

Four out of eight people charged in a penny stock "pump and dump" scheme that defrauded $290 million from thousands of investors were arraigned on Thursday following a two-year investigation. The defendants - Anthony Thompson, 38, of Bethesda, Maryland; Jay Fung, 40, of Delray Beach, Florida; Hanna Schmieder, 39, of Los Angeles; and Kenneth Oxsalida, 59, of Sebring, Florida - all pleaded not guilty before Judge Roger Hayes in Manhattan Supreme Court.

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