SEC defendant Bauer facing five-year jail term
2025-05-14 19:36 ET - Street Wire
Also Street Wire (U-NAMG) North American Oil & Gas Corp
Also Street Wire (U-VOIL) Virtus Oil and Gas Corp.
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by Mike Caswell
Federal prosecutors in New York have requested a five-year jail term for former Vancouver resident Ronald Bauer, the leader of a "sophisticated international fraud ring" that generated $15.3-million through multiple pump-and-dump schemes. (All figures are in U.S. dollars.) Prosecutors say that Mr. Bauer's conduct was "flagrant, manipulative and motivated by sheer greed." In addition to the jail term, prosecutors are seeking the forfeiture of $4.38-million.
The request from the government comes as part of a case in which Mr. Bauer, 49, previously pleaded guilty to a charge of conspiracy to commit securities fraud. The guilty plea came after Mr. Bauer was voluntarily extradited from the United Kingdom, where he lives with his family. (Mr. Bauer was born in Toronto and lived in Vancouver from 2003 until 2010, when he moved to the U.K.)
The proposed sentence is set out in a memorandum that prosecutors filed in federal court on Wednesday, May 14. In seeking the five-year term, prosecutors say that Mr. Bauer's jail term could range as high as 10 years based on his sentencing guidelines calculation (a complex and often imperfect piece of math designed to approximate an offender's prison term).
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snowden program got them also
Posted by oh at 2025-05-15 00:07
should have thought of his family before getting into trouble.. Get a real job
Posted by mrhappyone at 2025-05-15 13:42
"He has lost his career and reputation"..."The charges stem from a series of pump-and-dumps organized by Mr. Bauer, running from 2006 to 2020"..."In 2005, the SEC charged him (Mr. Bauer) for a $1.5-million pump-and-dump on the OTC Bulletin Board. He (Mr. Bauer) settled the case out of court in 2006, agreeing to pay $840,000 and to serve a five-year penny stock ban".
Some reputation, and some five-year ban, LOL.
Posted by halcrow at 2025-05-15 13:43