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SEC Says 5 Ran Pump & Dump Scheme

TAMPA (CN) - Sky Way Global and the men who own it defrauded investors of $1.4 million in a pump and dump scheme in unregistered securities, the SEC claims in Federal Court. The defendants claimed to have an international network in airlines communications, SEC prosecutors say.

Defendants include Sky Way's president Brent Kovar, 41, of Palm Springs, Calif.; CEO Glenn Kovar, 75, of Duluth, Ga., Brent Kovar's father; business director James Kent, 70, of Parrish, Fla.; "consultant" Kenneth Baker, 57, whose last known address was Cape Coral, Fla.; and promoter Kenneth Kramer, 66, of Lake Worth, Fla.

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