Unregistered penny stock gets man in trouble - 8 News NOW

Unregistered penny stock gets man in trouble

Posted: Updated:

LAS VEGAS -- A former Las Vegas resident who made more than $3 million from selling an unregistered penny stock in a purported diamond mine company received a four-year prison sentence Thursday, Nevada's U.S. Attorney Daniel Bogden said.

Marco Glisson, 59, of Miami was sentenced by U.S. District Judge Larry Hicks. Glisson pleaded guilty in January to tax evasion and conspiracy to offer and sell unregistered securities. Hicks ordered Glisson into federal custody at the end of the sentencing hearing.

According to Glisson’s plea agreement, he wasn't a registered broker or dealer of securities but he conspired with others to purchase and sell CMKM penny stock after the U.S. Securities and Exchange Commission permanently revoked CMKM's trading privileges. 

Glisson also failed to pay federal income taxes for 2006 and 2007, and owes the Internal Revenue Service more than $400,000.

The case was investigated by the FBI and IRS Criminal Investigation, and prosecuted by Assistant U.S. Attorneys Kathryn Newman and Andrew Duncan.

 

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KLAS. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.