Global “Pump-and-Dump” Scheme Targeted Retail Investors and Generated Over $100 Million in Illicit Proceeds
Damian Williams, the United States Attorney for the Southern District of New York, and Michael J. Driscoll, the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of three indictments charging ten individuals with engaging in a long-running “pump-and-dump” stock manipulation scheme involving the stocks of numerous companies traded on United States-based stock exchanges. The scheme spanned the globe and the ten defendants charged were residents of Canada, the United Kingdom, Bulgaria, Spain, Monaco, Turkey and the Bahamas. RONALD BAUER was arrested in the United Kingdom. CURTIS WILLIAM LEHNER, COURTNEY VASSEUR, and JULIUS CSURGO were arrested in Canada. ANTHONY KORCULANIC was arrested in Spain. PETAR MIHAYLOV was arrested in Bulgaria. Finally, DOMENIC CALABRIGO was arrested in the Bahamas. The United States intends to seek the extradition of BAUER, LEHNER, VASSEUR, CSURGO, KORCULANIC, MIHAYLOV, and CALABRIGO to the United States. CRAIG AURINGER, a citizen of Canada and resident of the United Kingdom, HASAN SARIO, a citizen and resident of Turkey, and DANIEL FERRIS, a citizen of the United Kingdom and resident of Monaco, were also charged and remain at large.