I never got around to blogging about this but did follow the case closely and had uploaded the plea agreement and indictment in this case. A good summary of the case is here. So here are the links:
Samuel DelPresto guilty plea agreement (PDF)
From the plea agreement:
If DELPRESTO enters a guilty plea and is sentenced on this charge, and otherwise fully complies with all of the terms of this agreement, this Office will not initiate any further criminal charges against DELPRESTO for his involvement in stock market manipulation schemes between in or about 2007 to in or about 2013 involving the publicly traded stock of the following companies, among others: Kentucky USA Energy, Inc., (“KYUS”); Mesa Energy Holdings, Inc. (“MSEH”); Bioneutral Group, Inc., (“BONU”); Clear-Lite Holdings, Inc., (“CLRH”); NXT Nutritionals Holdings, Inc., (“NXTH”); Empire Post Media, Inc. (“EMPM”); Mustang Alliances, Inc. (“MSTG”); IDO Security, Inc. (“IDOl”); Brainy Brands Co., Inc. (“TBBC”); Premier Brands Inc. (“BRND”); and LTS Nutraceuticals, Inc. (“LTSN”).
That is a very impressive list of pump and dumps.
Charges against Samuel DelPresto (PDF) — For some reason this is not called an indictment but it reads like one. It has a good explanation of how the pumps and dumps worked.
The SEC also filed a civil lawsuit against DelPresto.
Interestingly in light of the recent plea deal by the former head trader at BMA Securities (market maker BMAS on the OTC), the accounts listed for forfeiture include one account at BMA Securities. I have no evidence indicating anyone at BMA Securities was involved with DelPresto.
20 thoughts on “Samuel DelPresto and how to run big pumps and dumps”
so was he sentenced?
Set/Reset Hearings as to SAMUEL DELPRESTO: Sentencing set for 10/4/2016 10:00 AM in Newark – Courtroom 5D before Judge Jose L. Linares. (lr, ) — so 1.5 months until his sentencing.
Good. He belongs in jail.
How long will he be in jail ?
See earlier comment — his sentencing hearing is in two days.
Will it be postponed yet again?
If I had read,I wouldn’t have asked .Can you post updates . Thank you
It was postponed again.
When is the new date ?
It seems that the maximum jail to he can get is 5 years
The violation of 18 U.S.C. § 371 to which DELPRESTO agrees to plead
guilty carries a statutory maximum prison sentence of 5 years and a statutory
maximum fine equal to the greatest of: (1) $250,000; or (2) twice the gross
amount of any pecuniary gain that any persons derived from the offense; or (3)
twice the gross amount of any pecuniary loss sustained by any victims of the
offense. Fines imposed by the sentencing judge may be subject to the payment
Thank you for the update , when is the new date he will be sentenced ?
thank you , do you know the new date ?
I don’t see a new sentencing date but likely it is in 2017 because he was granted a release to leave the US to visit family in Puerto Rico for Christmas.
I know the family. Nor he or his wife have family in Puerto Rico. Looks like he wants s vacation and was able to scam the court yet again. Interesting.
That makes no sense ? Since when do convicted felons have the choice to take a vacation before incarcerated ?
Your right Frank , very interesting
Is there any new date for sentencing?
Freaking crook deserves everything he gets
Any info if Delpresto in jail ?
he got three years probation: https://www.courtlistener.com/recap/gov.uscourts.njd.327949/gov.uscourts.njd.327949.25.0.pdf