Dennis Mancino, Securities Fraud Conspiracy, New York 2019
Fraudulent Scheme Unfolds in Brooklyn Federal Court
In a move to bring accountability to those who have abused the trust of investors, Dennis Mancino, former CEO of HD View 360, Inc., was sentenced to 15 months' imprisonment for his role in a conspiracy to commit securities fraud. This case serves as a stark reminder of the devastating consequences of such schemes on the public.
Between July 2017 and February 2018, Mancino conspired with others to manipulate the price and trading volume of HD View's stock by executing numerous fraudulent matched trades. These trades created the false appearance that HD View's stock price had risen due to genuine market demand. As a result, Mancino and his co-conspirators sold the stock for profit, causing more than $1.2 million in losses to over 1,200 HD View investors.
The defendant, 49-year-old Dennis Mancino of Miami, Florida, was also ordered to pay more than $1.2 million in restitution and $257,000 in forfeiture. This significant financial penalty serves as a deterrent to those who would seek to exploit the investing public.
Mark J. Lesko, Acting United States Attorney for the Eastern District of New York, announced the sentencing and expressed his commitment to protecting the investing public and the integrity of the financial markets from fraudulent schemes. He thanked the Federal Bureau of Investigation, New York Field Office, and the United States Securities and Exchange Commission, New York Regional Office and Washington, D.C. Office, for their invaluable efforts in the case.
The case is being handled by the Office's Business and Securities Fraud Section, with Assistant United States Attorneys David Gopstein and Michael T. Keilty leading the prosecution. This conviction serves as a testament to the tireless efforts of law enforcement agencies in bringing perpetrators of white-collar crimes to justice.
As the investigation continues, the public is reminded that such schemes will not be tolerated and that those responsible will face the full force of the law. The sentence handed down to Mancino is a significant step in the right direction and serves as a warning to those who would seek to engage in similar activities.
Mandatory Facts:
Defendant/Respondent: Dennis Mancino
Criminal Charges: Conspiracy to Commit Securities Fraud
City and State: Brooklyn, New York
Date: September 2019
Sentence: 15 months' imprisonment, $1.2 million in restitution, $257,000 in forfeiture
Dollar Amounts: $1.2 million in restitution, $257,000 in forfeiture
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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