{"id":1579,"date":"2015-01-15T22:44:48","date_gmt":"2015-01-15T22:44:48","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/01\/sec_accuses_canadian_man_of_fr"},"modified":"2022-03-11T13:40:40","modified_gmt":"2022-03-11T19:40:40","slug":"sec-accuses-canadian-man-of-fr","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-accuses-canadian-man-of-fr\/","title":{"rendered":"SEC Accuses Canadian Man of Fraudulent Trading Scam, Use of \u201cLayering\u201d Strategy"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission is charging a Canadian citizen with running a market manipulation scam <\/a>that involved making orders to trick others into selling or purchasing U.S. publicly traded stocks at prices that were depressed or artificially inflated. The strategy is known as “layering.” U.S. Attorney’s Office for the District of New Jersey has filed criminal charges against Aleksandr Milrud in a parallel action.<\/p>\n

According to the SEC’s complaint, submitted in a federal court, Milrud started recruiting online traders primarily in Korea and China beginning at least as early 2013 and giving them the cut of the profits made from the scheme. He purportedly gave traders access to trading accounts and told them how to avoid coming under the regulatory scrutiny when layering. <\/p>\n

To avoid detection, Milrud would wire funds to an offshore account and have the money delivered to him in a suitcase, as well as use middlemen. He also allegedly had traders use multiple user names, addresses, computers, and Internet protocols (IP). <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission is charging a Canadian citizen with running a market manipulation scam that involved making orders to trick others into selling or purchasing U.S. publicly traded stocks at prices that were depressed or artificially inflated. The strategy is known as “layering.” U.S. Attorney’s Office for the District of New Jersey has […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3801,3760,3741],"tags":[],"class_list":["post-1579","post","type-post","status-publish","format-standard","hentry","category-sec","category-sec-enforcement","category-securities-fraud"],"yoast_head":"\nSEC Accuses Canadian Man of Fraudulent Trading Scam, Use of \u201cLayering\u201d Strategy — Investor Lawyers Blog — January 15, 2015<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission is charging a Canadian citizen with running a market manipulation scam that involved making orders to trick others — January 15, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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