Sept 13 2013
Sandy Winick, a penny stock promoter who is now the subject of U.S. criminal charges that could put him in prison for life, should be permanently banned from Ontario’s capital markets, an Ontario Securities Commission hearing was told on Thursday.
Winick should also pay an administrative fine of $1.25 million and disgorge ill-gotten gains of $359,000 for his role as the mastermind of three fraudulent schemes involving companies under his control, said Jon Feasby, lawyer for the OSC.
August 2013
A Canadian man accused of masterminding an international penny stock fraud scheme that swindled investors out of more than $140 million has been arrested in Thailand.
The FBI says 55-year-old Sandy Winick was arrested over the weekend.
Thai newspaper Bangkok Post reports that he was arrested in an apartment in the city and is awaiting extradition to the U.S.
Winick is one of four Canadians the FBI says were involved in a massive "pump and dump'' scheme that generated more than $120 million in investments by tens of thousands of people in the United States, Canada and 33 other countries.
One of the Canadians was previously arrested in Ontario and another one was arrested in the U.S., along with five other American suspects.
Gregory Curry, 63, is also wanted in the alleged scheme.
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