Spammer Ralsky pleads guilty to stock fraud
Court Alerts
Alan Ralsky, a spam kingpin who was convicted of felony bank fraud in 1995, could face more than seven years in prison after pleading guilty in a stock fraud case involving spam messages that pumped up Chinese "penny" stocks.
Ralsky and four other individuals pleaded guilty on Monday, joining three others who had pleaded guilty earlier, the US Department of Justice announced on Monday. Cases are still pending against three other people, they said. The defendants were indicted in the Eastern District of Michigan in 2007.
In 2004 and 2005, the group engaged in a set of related conspiracies to manipulate stocks using false and misleading spam messages. After the spam boosted the trading volume and prices of the thinly traded stocks, the conspirators profited by trading in their shares. Many of the shares were low-priced "pink sheet" stocks for US companies owned by individuals in Hong Kong and China, the DOJ said.
Ralsky, 64, of Bloomfield Hills, Michigan, pleaded guilty to conspiracy to commit wire fraud and mail fraud and to violate the CAN-SPAM Act. As part of his guilty plea, Ralsky acknowledged he faces as much as 87 months in prison and a US$1 million fine. Ralsky's son-in-law, Scott Bradley, 38, also of Bloomfield Hills, pleaded guilty to the same charges and acknowledged he faces as long as 78 months in prison and a $1 million fine.
John Bown, 45, of Fresno, California, admitted creating a botnet to send the spam. Bown pleaded guilty to conspiracy to commit wire fraud and mail fraud and to violate the CAN-SPAM Act, as well as conspiracy to commit computer fraud. He faces as much as 63 months in prison and a US$75,000 fine. William Neil, 46, of Fresno, and James Fite, 36, of Culver City, California, also pleaded guilty in the case. All five defendants are scheduled to be sentenced on October 29.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.