Dennis Mancino, 46, President and CEO of HD View 360, Inc. (HDVW), and William Hirschy, 41, CEO of WT Consulting Group, LLC, were arrested yesterday on federal charges tied to a multimillion-dollar pump and dump scheme. The pair allegedly conspired to manipulate the stock price and trading volume of HDVW, a publicly traded shell company claiming to distribute security surveillance systems, fleecing unsuspecting investors in the process.
Between July 2017 and February 2018, Mancino and Hirschy executed a textbook securities fraud operation: they inflated HDVW’s stock through fraudulent matched trades and a barrage of misleading press releases. These artificial spikes created the illusion of market demand. Once the price surged, they dumped their shares—netting millions—while investors were left holding worthless stock.
According to court documents, the defendants sweetened the scheme by paying kickbacks to brokers who executed manipulative trades. These so-called matched trades were not real market activity but coordinated buys and sells designed to deceive regulators and traders alike. The Southern District of Florida will host their initial appearances this afternoon at the Miami federal courthouse.
Richard P. Donoghue, U.S. Attorney for the Eastern District of New York, called the scheme a ‘classic pump and dump’ aimed at defrauding the public. ‘The charges announced today demonstrate our commitment to protecting the investing public by prosecuting pump and dump fraudsters,’ Donoghue stated, crediting the SEC’s New York and D.C. offices for critical investigative support.
FBI Assistant Director-in-Charge William F. Sweeney, Jr. emphasized the broader threat to market integrity: ‘Mancino and Hirschy tricked their victims into investing under false pretenses, profiting from an orchestrated loss to those who unwittingly participated.’ The FBI and IRS-CI jointly pursued the case, underscoring the cross-agency crackdown on financial fraud.
The case is being prosecuted by the Business and Securities Fraud Section of the U.S. Attorney’s Office. Assistant U.S. Attorneys Jacquelyn M. Kasulis, Michael T. Keilty, and David Gopstein lead the prosecution. The charges in the complaint are allegations; Mancino and Hirschy are presumed innocent until proven guilty. E.D.N.Y. Docket No. 18-MJ-184.
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Key Facts
- State: New York
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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