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by Mike Caswell
Prosecutors in New York have asked for a jail term of up to five years for Sergio Ramirez, one of the accused in a boiler room operation that pitched Intelligent Content Enterprises Inc., a former Canadian Stock Exchange listing. The government says that he and others repeatedly and aggressively solicited victims, including many seniors, calling as often as five or six times a day. They were part of a massive pump-and-dump that, according to prosecutors, boosted the value of Intelligent Content and four other companies by a collective $147-million. (All figures are in U.S. dollars.)
The request from prosecutors comes with Mr. Ramirez, 45, having admitted to his part in the scheme, pleading guilty to a charge of conspiracy to commit securities fraud on June 1, 2018. Details of his plea were never public, as prosecutors did not place his plea agreement into the court file. He and most others in the case pleaded guilty, with only four of the original 15 defendants deciding to go to trial.
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