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According to court records, two of the three, accused of maliciously snatching dormant shell companies and a shameless scheme to forge their stock shares, are now set to be convicted in the case in October.
One of the defendants, Christopher James Rajkaran of Queens, New York and Guyana, changed the hearing of the appeal scheduled for Oct. October in federal court in Minnesota on Monday.
Last week, a judge denied Rajkaran’s latest attempt to secure bail from a Minnesota jail, saying he had taken a “grave risk” of not appearing in court. Rajkaran’s lawyer declined to comment on Tuesday.
Another defendant, Mark Allen Miller, who was released on a 25 25,000 unsecured personal recognition bond, is due to be convicted in the same court on Oct. 14, according to a change of appeal last week.
Miller’s attorney did not immediately respond to a request for comment.
Miller, a general contractor who lives in Bridging Point, Minnesota, has not been convicted of 15 counts of securities fraud, securities fraud conspiracy and his forgery before Rajkaran.
The change in their application notice did not say what crime they would be convicted of.
The third accused in the case, Said de Jaberian, is currently on track for trial.
Jaberian, also known as Andre Jaberian, a Minnesota resident, has been convicted on the same charges as the other two men and released on an unsecured bond of 25,000.
The three were indicted by a grand jury in June, which found that four shell companies – Digitality, Encampus Holdings, Bell Buckle Holdings, and Utilcraft Aerospace Industries – had been using fake resignations since 2017. 2019
The allegations allege that Miller and Jaberian, as well as an unidentified person related to Miller, actually became the nominal CEO and president of the targeted company.
Those individuals were then accused of using the Securities and Exchange Commission’s EDGAR public filing system and false press releases to raise their company’s share price, claiming they had new business opportunities. The companies did not actually have any significant activities or revenue, the complaint said.
According to a report filed in court, the men bought millions of shares in the companies, in many cases much less than a penny per share, which was then sold in the over-the-counter market for 90,000% profit.
A spokesman for the U.S. Attorney’s Office in Minnesota – who declined to comment Tuesday on a hearing scheduled for Miller and Rajkaran – previously said the three men were believed to have made several thousand dollars in illicit profits.
Jaberia’s lawyer said in a lawsuit filed in late August that “in future trials, Jaberia’s defense should claim that Miller cheated on him” unknowingly took part in a plan to hijack a dormant shell company.
The SEC filed a separate civil lawsuit against Miller in June alleging “a fraudulent scheme targeting at least seven dormant penny-stock companies … hijacking five companies and accusing them of issuing false and misleading statements and false propaganda.” [companies] For the purpose of making a profit from a ‘pump and dump’ of stock. “
The inactive companies that Miller targeted in the SEC allegations include four identified in the criminal complaint, as well as strategic asset leasing, Simulated Environment Concept and Bebida Beverages.
When he was indicted, Miller was involved in an attempt to seize control of the Florida penny-stock company, New World Gold Corporation, which was not cited as one of his alleged targets in a criminal case or a SEC civil case.
Less than two weeks after CNBC reported his involvement with New World Gold, Miller voluntarily withdrew a lawsuit filed in Florida as part of his efforts.
Shares of New World Gold fell from a June high of $ 0.0275 – two weeks before news of Miller’s criminal case began – to $ 0.0012 per share as of Tuesday afternoon. Shares of NWGC fell more than 29% in trading late Tuesday, with more than 21 million shares changing hands.