$300M Stock Scam Allegations Lead to Guilty Verdict
A Brooklyn jury has convicted ex-OmniView Capital Advisors LLC CEO Abraxas J. Discala of conspiracy, wire fraud, and securities fraud in a $300M market rigging scam/ pump-and dump fraud. A second defendant, lawyer Kyleen Cane, was acquitted after initially being charged with conspiracy and securities fraud.
According to prosecutors, the stock fraud occurred from 10/2012 through 7/2014. Trades in four publicly traded companies were reportedly involved.