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by Mike Caswell

Two years after they charged him, New York prosecutors have successfully extradited Vancouver's Ronald Bauer to face charges for pump-and-dumps that generated $75-million. (All figures are in U.S. dollars.) Prosecutors claim that he and others manipulated multiple companies through boiler rooms and paid promotional campaigns. Mr. Bauer was the "primary strategist" of the operation, overseeing at least seven pump-and-dumps, according to the government.

Mr. Bauer made his initial appearance before a U.S. judge on March 29, 2024, and entered a plea of not guilty. The judge released him on a $5-million appearance bond, secured by property that includes a condominium in the Florida city of Pompano Beach. Prosecutors did not oppose his release. While Mr. Bauer is a Canadian, he had been living in the United Kingdom. Authorities there arrested him on April, 14, 2022, when the U.S. charges against him were unsealed.

Mr. Bauer's appearance in a New York court comes with all of his co-accused still wanted for the scheme. Among them is Craig Auringer, a Canadian living in the U.K., whose part in the scheme included arranging promotional campaigns, prosecutors claim. Still wanted as well is Petar Mihaylov, also known as "Petar the Bulgarian." (As his alias suggests, he lives in Bulgaria.) The final outstanding defendant is Daniel Ferris, a U.K. citizen living in Monaco.

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