Video Tech Co. Founder Charged In Pump-And-Dump Scheme
Reenat Sinay, 15 January 2021
The founder of a Silicon Valley video streaming service and an investment manager have been indicted for allegedly orchestrating a pump-and-dump stock fraud scheme, Illinois federal prosecutors announced Friday.
David Foley and investment manager Bennie Blankenship allegedly conspired to manipulate the share prices of NanoTech Gaming Inc., a former unit of Nanotech Entertainment Inc., according to the 10-count Jan. 11 indictment.
Between 2013 and 2016, Foley acquired shares in NanoTech Gaming and issued them to a South Dakota corporation called Galaxy Entertainment Group Inc., purportedly run by a close relative of Foley’s, prosecutors said. Continue reading “Article: Video Tech Co. Founder Charged In Pump-And-Dump Scheme”
