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Three Defendants Sentenced For Conspiracy To Commit Securities And Email Fraud
A Sarasota, Fla., man has been sentenced to five years in prison and two years of supervised release for conspiring to commit both securities fraud and email fraud stemming from stock manipulation scheme involving four publicly-traded companies – Masslick Inc., eDollars Inc., Emerging Holdings Inc., and China Score Inc. – Assistant Attorney General Alice S. Fisher of the Criminal Division and U.S. Attorney Chuck Rosenberg for the Eastern District of Virginia announced today.
Stephen P. Luscko, 39, was sentenced today in federal court in Alexandria, Va. Luscko’s co-conspirators included Gregory Alphonse Neu, 30, of Boca Raton, Fla., and Brian George Brunette, 29, of Miramar, Fla., who were previously sentenced for their roles in the stock manipulation schemes. Neu was sentenced to five years in prison and three years supervised release; Brunette, who only participated in the stock manipulation scheme involving Massclick, was sentenced to one year and a day in prison and three years supervised release. The District Court will resolve outstanding restitution issues on June 8, 2007. The government has seized more than $3 million from bank accounts associated with the co-conspirators. Read more at usdoj.gov.
Definition:
Refers to the standard delivery point(s) and/or quality of a commodity that is deliverable on a futures contract at contract price.
Abandon
Definition:
To elect not to exercise or offset a long option position
Bear Spread
Definition:
(1) A strategy involving the simultaneous purchase and sale of options of the same class and expiration date, but different strike prices. In a bear spread, the option that is purchased has a lower delta than the option that is bought. For example, in a call bear spread, the purchased option has a higher exercise price than the option that is sold. Also called Bear Vertical Spread. (2) The simultaneous purchase and sale of two futures contracts in the same or related commodities with the intention of profiting from a decline in prices but at the same time limiting the potential loss if this expectation does not materialize.
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