SEC Nails Two In Pump And Dump Scheme

SEATTLE (CN) - Strategic Management & Opportunity Corp.'s CEO Robert Pratt made $629,000 from a fraudulent pump-and-dump stock scheme that drove Strategic's share price from 10 cents to $4.50, and he hired convicted securities recidivist Jeffrey Brommer to help him do it, the SEC claims in Federal Court. Brommer, who made $25,000 from this, was nailed for a similar securities fraud, and enjoined, in 1999, the SEC says.

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