A Connecticut guy convicted of bilking countless numbers of traders in a practically $19 million “pump-and-dump” inventory fraud scheme has died in a car or truck crash, condition law enforcement explained.
Christian Meissenn, 49, crashed his vintage Lincoln Town Auto on I-95 in Greenwich on Aug. 16, the Hartford Courant reported, citing condition law enforcement.
Meissenn, of Suffield, was sentenced in 2018 for his part in a securities fraud scheme from 2009 by 2016 that misled traders and price tag as lots of as 12,000 people today – like several retirees — to eliminate their cost savings, the Courant reported.
Meissenn, whose lawyer reported he experienced a uncommon blood cancer, received a comparatively quick 3-month prison sentence due to his terminal disease, which could not be adequately cared for in the federal prison system.
“I have to marvel no matter if some providential force – I’m absolutely sure you have far too – has sentenced you to some thing even worse,” federal Choose Jeffrey Meyer told Meissenn at his sentencing.
He was also ordered to 3 several years of household confinement and to pay out restitution in surplus of $5.3 million.
Meissenn’s co-conspirators, like former Hartford City Councilor Corey Brinson, been given a few- to seven-12 months sentences in the plan.
Federal prosecutors claimed Meissenn and his accomplices conspired to defraud traders by providing penny shares utilizing “false and misleading” claims that led them to be improperly inflated. The issuing providers, meanwhile, were being largely shell organizations controlled by Meissenn’s associates.
“After offering their individual shares at a income, the conspirators permitted the rate of the securities to fall, leaving investors with worthless and unsalable stock,” the Division of Justice mentioned. “As a outcome, additional than 12,000 sufferer buyers misplaced practically $19 million.”
Meissenn, who pleaded responsible to expenses of tax evasion and conspiracy to commit mail and wire fraud, attained around $4.4 million throughout the plan.
His lawyer, Cody Guarnieri, instructed Meyer in 2018 that he had Erdheim-Chester condition, a rare kind of sluggish-rising blood most cancers, and retroperitoneal fibrosis — saying his extended-term well being outlook was not fantastic, the Courant reported.
Guarnieri had sought a sentence of home arrest and no prison time, but Meyer reported it would’ve despatched the improper concept to permit Meissenn to keep away from time powering bars.
6 many others pleaded responsible in the conspiracy, which led to a seven-yr prison sentence for Florida businessman Damian Delgado, 44, of Orlando, DOJ officials mentioned.