Penny Stock Fugitive Sandy Winick Arrested in Bangkok
On August 19, 2013, the Federal Bureau of Investigation circulated a new Wanted by the FBI poster to announce that Sandy Winick, indicted the week before on multiple counts of stock manipulation, wire fraud, and mail fraud, had been captured.
According to the FBI, Winick operated domestically and internationally under various identities through the use of alias names including John Peter Smith, Robin Cheer, Roben Cheer, Jerry Sarrano, Glen Forman, Kyle Bendford, and Stephen Thompson.
According to the Bangkok Post, the arrest took place over the weekend. Winick was apprehended in the lobby of the Empire Palace in the Yannawa District of the city by Thai Special Branch police. He is now awaiting extradition to the United States.
The arrest was not Winick’s first rodeo. In 2011 he was nabbed by the Crime Suppression Division on fraud charges brought in connection with an illicit boiler room he’d set up to lure victims into various financial scams. He was also charged with working without a permit. According to the Post reporter’s source, Winick jumped bail and left the country, later to return to the kingdom under cover. Perhaps he used one of the multiple aliases cited in the U.S. Department of Justice’s indictment.
It is noted in another DOJ document that Winick bragged that he’d bribed his way out of the charges in Thailand.
The indictment of Winick and eight associates was announced by the DOJ on August 13. All of the alleged perpetrators are Canadian or U.S. citizens. Seven of them were arrested immediately; two, Kolt Curry and Joseph Manfredonia, were denied bail because they are considered to be flight risks. No doubt Winick will receive the same treatment. Only Gregory Curry remains at large; he had apparently fled Thailand before he could be picked up.
The defendants stand accused of operating pump and dump schemes, and then sucking their victims into an advance pay scheme, promising to help them recoup their losses either by selling their securities to purported waiting investors, or by joining class actions against the companies whose stock they’d purchased. Both alternatives involved the payment of fees for services that would not be rendered. Adding insult to injury, some of the scammers impersonated Internal Revenue Service agents, demanding “advance tax payments” from the people they’d already robbed.
It is alleged that Winick and his confederates reaped as much as $140 million in ill-gotten gains.
The Bangkok Post caught the scoop, but by the evening of the 19th reports were circulating in North America, especially in Canada, where the story made the evening television news.
See also: https://www.securitieslawyer101.com/sandy-winick/
For further information about this securities law blog post, please contact Brenda Hamilton, Securities Attorney at 101 Plaza Real S, Suite 202 N, Boca Raton, Florida, (561) 416-8956, by email at [email protected] or visit www.securitieslawyer101.com. This securities law blog post is provided as a general informational service to clients and friends of Hamilton & Associates Law Group and should not be construed as, and does not constitute, legal and compliance advice on any specific matter, nor does this message create an attorney-client relationship. Please note that the prior results discussed herein do not guarantee similar outcomes.
Hamilton & Associates | Securities Lawyers
Brenda Hamilton, Securities Attorney
101 Plaza Real South, Suite 202 North
Boca Raton, Florida 33432
Telephone: (561) 416-8956
Facsimile: (561) 416-2855
www.SecuritiesLawyer101.com
Hamilton & Associates | Securities Lawyers
Brenda Hamilton, Securities Attorney
101 Plaza Real South, Suite 202 North
Boca Raton, Florida 33432
Telephone: (561) 416-8956
Facsimile: (561) 416-2855
www.SecuritiesLawyer101.com
