{"id":4529,"date":"2007-11-29T10:36:34","date_gmt":"2007-11-29T10:36:34","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/11\/prosecutors_say_smart_online_i"},"modified":"2021-09-20T15:44:04","modified_gmt":"2021-09-20T20:44:04","slug":"prosecutors-say-smart-online-i","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/prosecutors-say-smart-online-i\/","title":{"rendered":"Prosecutors Say Smart Online Inc. CEO Scammed Investors to Drive Up Shares"},"content":{"rendered":"

\t\t\t\tProsecutors charged former Smart Online Inc. CEO Dennis Nouri, his brother Reza, and brokers Ruben Serrano and Alain Lustig on charges of conspiracy to commit fraud and securities fraud<\/a>. The four men allegedly took part in a scam, in which they sold stocks to investors to drive up Smart Online shares. <\/p>\n

US Attorney Michael Garcia is also accusing Dennis and Reza, also Smart Online employee, of bribing the brokers to sell the stock aggressively so that the stock’s price would go up. The brothers were also charged with commercial bribery and wire fraud. <\/p>\n

The SEC complaint said that Dennis Nouri paid over $170,000 to the brokers, who sold over 267,000 shares to investors. The investors did not know about these payments. The complaint says that Dennis Nouri covered up the bribes by calling them “consulting fees.”<\/p>\n

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

Prosecutors charged former Smart Online Inc. CEO Dennis Nouri, his brother Reza, and brokers Ruben Serrano and Alain Lustig on charges of conspiracy to commit fraud and securities fraud. The four men allegedly took part in a scam, in which they sold stocks to investors to drive up Smart Online shares. US Attorney Michael Garcia […]<\/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":[3773],"tags":[],"class_list":["post-4529","post","type-post","status-publish","format-standard","hentry","category-broker-fraud"],"yoast_head":"\nProsecutors Say Smart Online Inc. CEO Scammed Investors to Drive Up Shares — Investor Lawyers Blog — November 29, 2007<\/title>\n<meta name=\"description\" content=\"Prosecutors charged former Smart Online Inc. 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