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by Mike Caswell

Vancouver's Frank Biller is poised to plead guilty to criminal fraud charges that he faces in the United States for a $58-million boiler room run from Colombia. (All figures are in U.S. dollars.) The government claimed that Mr. Biller, who used aliases such as "Frank Johnson" and "Dr. Peter Phillips," helped pitch multiple OTC Markets listings through high-pressure sales tactics. As boiler room operators were boosting the companies, hidden shareholders were dumping millions of shares, prosecutors said.

Word of Mr. Biller's guilty plea is contained in a letter to the judge that prosecutors filed on Dec. 17, 2024, in federal court in New York. Prosecutors say that, after discussions with Mr. Biller's lawyer regarding the charges, they expect to "reach a resolution in short order." They have asked that the judge schedule a change of plea hearing for a date in January, 2025. While the wording of the letter is somewhat vague, a plea deal appears to be all but done, as Mr. Biller's lawyer consented to the request.

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