NEW YORK CITY - Six people appeared in US federal courts on Wednesday in connection with what American officials are calling one of the biggest international penny stock frauds ever investigated.
A map showing where call centres and victims involved with a penny stock fraud scheme rests on a stand before the announcement of the indictment of nine individuals involved in the scheme in New York on Tuesday. The scheme involved fraudulently inflating share prices and trading volumes of certain penny stocks. (Reuters photo)
They were among nine Canadians and Americans - two of them expats in Thailand - indicted on charges of bilking investors in about 35 countries of more than $140 million, the US Attorney's Office for the Eastern District of New York said.