- Report: #1068049
Report - Rebuttal - Arbitrate
Complaint Review: IHUB
IHUBinternet, Select State/Province USA
IHUB Fire Lane Matthew Brown, Pleads Guilty to Fraud and Money Laundering internet United States
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The founder of stock message board website InvestorsHub.com, Matthew Brown, pleaded guilty today to 4 counts of fraud and money laundering. Mr. Brown faces up to 20 years in prison and a $500,000 fine.
Federal prosecutors charges Brown along with 6 other individuals for creating a pump and dump scheme. The scheme hype five lightly traded stocks using InvestorsHub to drive up the price and then sell. In the plea agreement, He admitted that investors had lost at least $1 million because of the scheme
This report was posted on Ripoff Report on 07/18/2013 10:04 AM and is a permanent record located here: http://www.ripoffreport.com/r/IHUB/internet-Select-StateProvince/IHUB-Fire-Lane-Matthew-Brown-Pleads-Guilty-to-Fraud-and-Money-Laundering-internet-Unite-1068049. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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