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Former Toronto resident Sandy Winick figured he was on to a good thing with his scam raking in millions of dollars from investors, U.S. authorities allege, telling a colleague his scheme was better than another: “That deal is obviously a pump-and-dump. We know enough to be subtle.”
His business partner, Kolt Curry, another Canadian, allegedly boasted: “The money is good, it’s easy. It’s easy money. Definitely easy money, and it’s good money.” And for awhile, they were right.
On Tuesday, however, they were two of four Canadians indicted in the United States, alongside five Americans, charged with running the largest international penny stock and advance fee frauds in history.
Mr. Winick, 55, was named as the mastermind behind the two related schemes that U.S. prosecutors allege bilked victims in 35 countries out of more than $140-million. Continue Reading →