Canadian stock trader charged in alleged Northern Ethanol stock manipulation

In Pennsylvania, Canadian stock broker George Georgiou was charged yesterday with conspiracy, securities fraud and wire fraud relating to kickbacks to other stock brokers to purchase shares in Northern Ethanol, among other securities. US prosecutors allege that the kickbacks resulted in inflated trading and prices in a $26 million fraud scheme.  Georgiou was arrested after he allegedly committed to pay kickbacks to an undercover FBI agent for purchasing $10 million in Northern ethanol stock. Georgious’ lawyers denied the charges.

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