USA: Individual sentenced to 25 years in prison
Posted by nileshkokane on 25 November, 2010
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As published in the U.S. Securities and Exchange Commission (SEC) litigation dated November 22, 2010, SEC announced that on November 19, 2010, George Georgiou, of Toronto Ontario, was sentenced in a parallel criminal action for his role in manipulating the market in four separate microcap stocks – Avicena Group, Inc., Neutron Enterprises, Inc., Hydrogen Hybrid Technologies, Inc., and Northern Ethanol, Inc. Judge Robert F. Kelly of the United States District Court for the Eastern District of Pennsylvania sentenced Georgiou to 25 years in federal prison, followed by three years of supervised release, and ordered him to pay $55,832,398 in restitution.



