Report: #1068049

Complaint Review: IHUB

  • Submitted: Thu, July 18, 2013
  • Updated: Thu, July 18, 2013
  • Reported By: EcoGonore — Casper Wyoming
  • IHUB

    internet, 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

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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/reports/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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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