Mark E. Fisher, 53, of Boca Raton, Florida, is behind bars after being sentenced to 28 months in federal prison for his role in a brazen pump and dump scheme that manipulated the stock of Valentine Beauty, Inc. (VLBI). The former attorney, once licensed to practice in both Florida and New York, admitted to forging legal documents to flood the market with restricted shares, cashing in while small investors got burned. The court also ordered Fisher to forfeit $8.4 million in illicit proceeds.
Fisher was sentenced by U.S. District Judge Kathleen M. Williams, who imposed the 28-month term followed by three years of supervised release. The conviction stems from one count of conspiracy to commit securities fraud, under Title 18, United States Code, Section 371 (Case No. 18-CR-20823-KMW). Fisher’s cooperation didn’t save him from prison, but it drew a lighter sentence than others involved—unlike Eddy Ubaldo Marin, who is now a fugitive after being sentenced to 210 months.
The scam began in November 2013 when Marin, 56, of Ft. Lauderdale, and associates quietly seized control of VLBI, a beauty supply firm selling products through infomercials. Shares traded over the counter via OTC Link. Through shell companies like Green Tree Capital, Inc.—controlled by Marin and co-defendant Joseph F. Capuozzo, 57, of Davie—the conspirators funneled shares into hidden accounts. Fisher’s job? To launder those shares into free-trading status using fake legal opinions.
Fisher forged opinion letters falsely claiming that shares held by insiders weren’t tied to company “affiliates,” allowing restricted stock to be dumped on unsuspecting investors. In March and April 2014, the crew moved massive blocks of VLBI stock into brokerage accounts under fake names—all secretly under their control. Capuozzo, who later copped a plea and got five years’ probation, even posed as CEO and fronted for Marin, a convicted felon the group worked hard to keep off paper.
From May through September 2014, the conspirators flooded the market with glowing press releases, hype-laden newsletters, and online promotions designed to jack up VLBI’s stock price. With trading volume and share value inflated, they quietly unloaded their hidden holdings for maximum profit. The artificial bubble burst as soon as the insiders bailed—leaving ordinary traders holding the bag.
The Department of Justice, led by U.S. Attorney Ariana Fajardo Orshan and FBI Special Agent in Charge George L. Piro, Miami Field Office, announced the sentencing. Co-defendant Shane R. Spierdowis, 27, formerly of Boca Raton, also pleaded guilty and was sentenced to five years’ probation (Case No. 18-CR-20355-UU). Marin remains at large. The case is a textbook example of how Wall Street sleight-of-hand still thrives in the shadows of microcap fraud.
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Key Facts
- State: Florida
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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