The defendants allegedly artificially inflated share prices as part of a scheme to profit off dumping shares, according to the Securities and Exchange Commission.
from federal prosecutors in New Jersey for alleged market manipulation and securities fraud.
The three men allegedly took control of the outstanding shares of deli operator Hometown International as well as a shell company called E-Waste Corp., and inflated the companies’ share prices through manipulative trading schemes, the SEC and federal prosecutorsThe defendants were accused of using the two entities to snap up private companies in reverse mergers with the intention of dumping their shares at “grossly inflated prices.
separately charged the three with securities fraud, conspiracy to commit securities fraud and conspiracy to manipulate securities prices.between Hometown International and bioplastics masker Makamer in April, did not immediately respond to a
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