Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Jane4IceCream who wrote (288985)	6/14/2004 7:55:00 PM
From: Tom Swift	Read Replies (4) of 436258

Sounds familiar: Calif. Teen Gets Almost 3 Years Jail in eBay Scam 58 minutes ago Add Technology - Internet Report to My Yahoo! LOS ANGELES (Reuters) - A southern California teenager who previously bilked investors out of $1 million in an Internet betting scheme was sentenced on Monday to almost three years in jail for an unrelated scam he operated through online auctioneer eBay Inc. (Nasdaq:EBAY - news) Cole Bartiromo, 19, was sentenced by a federal judge to 33 months in prison and ordered to pay about $20,000 in restitution after pleading guilty in February to charges he posted items for sale on eBay and then collected payment, without actually shipping the merchandise. He also pleaded guilty to bank fraud for attempting to convince a Wells Fargo employee to wire $400,000 to an offshore account he had established, and to cash checks for him received from victims in the eBay scam. Bartiromo, from Mission Viejo, California, was 17 and in high school when federal securities regulators discovered he had obtained nearly $1 million from around 1,000 investors by promising them safe bets with online sportsbooks. They later found he had also made more than $90,000 in profits by manipulating the shares of at least 15 publicly-traded companies. Bartiromo returned the money solicited from the investors and paid a settlement on the stock charges. story.news.yahoo.com

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