last year for fraud and market manipulation after he did not defend himself against allegations he masterminded a long-running “complex” scheme to facilitate penny stock fraud in hundreds of companies with gross sales of more than $1 billion US.
The U.S. district court for Massachusetts issued penalties against Sharp and an order to pay back illicit profits, with interest, totalling $53 million US. The securities commission said it provided Sharp the opportunity to be heard, but he did not provide any evidence or submissions.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: