- Associated Press - Tuesday, May 26, 2015

NEWARK, N.J. (AP) - A New York-based lawyer has been sentenced to 18 months in prison for illegally manipulating the stocks of two companies.

Adam Gottbetter pleaded guilty last September to conspiracy to commit securities and mail fraud.

The 46-year-old resident of New York and Boca Raton, Florida, was one of three men charged. Fifty-five-year-old Kenneth David Stevenson of Vancouver, Canada, pleaded guilty and is to be sentenced Thursday. Forty-seven-year-old Mitchell Adam, also of Vancouver, faces charges.

The U.S. attorney’s office in Newark says Gottbetter unwittingly used a stock trader in New York who was a government cooperator to inflate the prices of Louisville, Kentucky-based Dynastar Holdings and Houston-based HBP Energy Corp.

This was done by distributing false or misleading information to investors and trading the stocks to create the impression of market interest.


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