Melville Newswire

Melville Newswire

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  1. U.S. charges 14 over $147 mln New York boiler room scamRead the original story w/Photo

    Jul 12, 2017 | Reuters

    Federal prosecutors on Wednesday criminally charged 14 defendants with involvement in a $147 million stock manipulation scheme orchestrated in a Long Island, New York boiler room, and which swindled dozens of senior citizens and other investors. Employees of My Street Research, based in Melville, New York, obtained shares at below-market prices from insiders of five public companies, and conducted wash trades and other manipulative trading to drive prices up, according to court papers and acting U.S. Attorney Bridget Rohde in the Eastern District of New York.

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