Judge Sue Robinson of the United States District Court for the District of Delaware has sentenced a 27-year-old California man to four years in prison.
Matthew Brown also pleaded guilty this week to securities fraud and money laundering charges. Brown was also fined $50,000 and ordered to forfeit nearly $4.8 million.
According to Brown’s plea agreement, he and his conspirators plotted to manipulate the prices of publicly traded stocks. The intent was to increase the price of the stock, which Brown and his conspirators would then sell, generating proceeds.
Matthew Brown also pleaded guilty this week to securities fraud and money laundering charges. Brown was also fined $50,000 and ordered to forfeit nearly $4.8 million.
According to Brown’s plea agreement, he and his conspirators plotted to manipulate the prices of publicly traded stocks. The intent was to increase the price of the stock, which Brown and his conspirators would then sell, generating proceeds.
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