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by Mike Caswell

Ronald Bauer, the former Vancouver resident charged for a $75-million pump-and-dump scheme on the U.S. markets, has agreed to plead guilty to criminal charges in New York. (All figures are in U.S. dollars.) Prosecutors there claim that he and others manipulated multiple companies through boiler rooms and paid promotional campaigns, with the operation running for 14 years. According to the government, Mr. Bauer was the "primary strategist" of the operation.

Word of Mr. Bauer's guilty plea is set out in a motion that his lawyer filed in New York on Friday, Nov. 1. The motion says little about the circumstances of his plea, simply stating that he will be entering it in an appearance before the judge on Monday, Nov. 4. The purpose of the motion is to request that the judge allow Mr. Bauer to remain free on bond while he awaits sentencing.

The guilty plea comes about seven months after Mr. Bauer came to the U.S. to answer the charges. Prosecutors had been in the process of having him extradited from the United Kingdom, where he was living, when he voluntarily came to New York. Since his arrival in the U.S., Mr. Bauer has been free on a $5-million appearance bond, secured by property that includes a condominium in the Florida city of Pompano Beach.

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