Montana Man Sentenced in Pump/Dump Penny Stock Scam

April 3, 2015

The FBI announced that Matthew Carley, of Bozeman, Montana, was sentenced to 24 months in prison for his role in a stock manipulation scheme involving Ashburn, Virginia, company Red Branch Technologies. In addition he was ordered to forfeit over $789,000 and to pay $2.3 million in restitution to the victims.

Carley and his cohorts gained control of Red Branch Technologies and manipulated the price of the stock in order to sell their low priced shares to the unsuspecting public in a classic ‘pump and dump’ scheme.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

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