Former CEO of First Choice Healthcare Solutions, Inc. Christian Romandetti, Sr. pleaded guilty to conspiracy to commit securities fraud in federal court in Central Islip, New York.
When sentenced, Christian Romandetti, Sr. faces up to 5 years in prison.
The U.S. Attorney for the Eastern District of New York, Breon Peace, along with the Assistant Director-in-Charge of the Federal Bureau of Investigation, New York Field Office, Michael J. Driscoll, announced the guilty plea.
According to the indictment, between May 2013 and June 2016, Christian Romandetti, Sr. and others engaged in a multi-million dollar scheme to defraud investors and potential investors in First Choice Healthcare Solutions, Inc. by artificially controlling the price and volume of traded shares in the company.
The scheme involved artificially generating price movements and trading volume in the shares, and material misrepresentations and omissions in their communications with victim investors about the advisability of purchasing stock in the company.
The Defendant, Christian Romandetti, Sr., 61, of Indiatlantic, Florida, is set to be sentenced for his crimes.
The case is being handled by the Office’s Long Island Criminal Division, with Assistant United States Attorney Charles N. Rose in charge of the prosecution.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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