DETROIT (CN) – Federal prosecutors and the SEC charged eight people and three companies with running a $33 million pump-and-dump scam through “unlawful email spam campaigns” pushing shares of eight small companies based in China, Israel and Canada.
Francis A. Tribble, a former stock promoter, pleaded guilty to conspiracy, mail fraud, wire fraud and money launderings, and was sentenced to 51 months in federal prison.
How Wai Hui aka John Hui, a dual citizen of Hong Kong and Canada and former CEO of China World Trade Corp., pleaded guilty to the same charges and got the same sentence, the SEC said in announcing its complaint.
Also charged were:
Kwong-Chung Chan aka Bernard Chan, of Hong Kong, former CFO of China World Trade Corp.;
Gregg. M.S. Berger, a stockbroker from Yonkers, N.Y.;
Xiaoqing Du aka Angela Du, a dual citizen of Canada and China and CEO of Global Peopleline Telecom Inc.;
Chi Shing Ng aka Daniel Ng, of Hong Kong, CEO of China Digital Media Corp.;
Shay Ben-Asulin, of Israel, former chairman of m-Wise Inc.;
and Mordechai Broudo, an Italian citizen and resident of Israel and former CEO of m-Wise.
China Digital, Global Peopleline and m-Wise were also sued.