Four men pleaded guilty to running an e-mail pump-and-dump scam that involved 15 different publicly traded companies and defrauded investors of more than $20 million.Michael Saquella, (also known as Michael Paloma), 47, of Mesa, Ariz., and Lawrence J. Kaplan, 63, of Scottsdale, Ariz., both pleaded guilty in a federal court in Alexandria, Va. to participating in the stock manipulation scheme. Henry J. Zemla, 38, of Harris Township, Mich., also pleaded guilty in federal court in for his involvement in the scheme.Justin Medlin, 26, of Paris, France, also pleaded guilty in federal court in Alexandria to one count of electronic mail fraud and one count of conspiracy to commit securities fraud and electronic mail fraud involving seven of the companies. He will be sentenced on Nov. 30, 2007, by U.S. District Judge Leonie M. Brinkema.
http://informationweek.com/news/showArticle.jhtml?articleID=201804792