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by Mike Caswell

A San Diego judge has imposed a 21-month jail term on Ongkaruck Sripetch, the Washington State stock tout known as "King Richards." Prosecutors charged Mr. Sripetch and three Canadians for a scheme to boost stocks through a website Mr. Sripetch controlled, called Stockpalooza.com. He and the others secretly unloaded hundreds of thousands of shares through offshore accounts, the government claimed.

Mr. Sripetch's sentence is contained in a judgment handed down on Monday, Aug. 1, in federal court in California. In addition to the 21-month jail term, the judge ordered Mr. Sripetch to serve three years of supervised release. The conditions of his release include a prohibition on working as a promoter or in other positions that would involve inducing the purchase or sale of any stock. He will also be subject to standard conditions of release such as drug testing and regular reporting to a probation officer. There was no trial for Mr. Sripetch, as he pleaded guilty. He must report to prison on Sept. 9, 2022.

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