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by Mike Caswell

A federal judge in New York has imposed a 20-month jail term on Ronald Bauer, a former Vancouver resident charged for multiple pump-and-dumps on the U.S. markets. Prosecutors claimed that Mr. Bauer led a "sophisticated conspiracy" that generated $15.3-million through multiple pump-and-dump schemes. His "brazen and classic" scheme allowed him to own multiple luxury homes and villas and travel internationally, the government said.

Mr. Bauer, 49, received his sentence in an appearance before U.S. District Judge Paul Engelmayer on Tuesday, May 20. In addition to the 20-month jail term, the judge ordered Mr. Bauer to forfeit $4.37-million. Mr. Bauer must also serve three years of supervised release upon completion of his jail term.

The sentence is a partial victory for prosecutors, who had asked that the judge send Mr. Bauer to prison for up to five years. They said that he led a scheme that involved an international pump-and-dump network, with his conduct "motivated by sheer greed." He participated in or directed nearly every aspect of the pump-and-dumps -- creating shells, running promotional campaigns and carrying out the trading strategy, prosecutors claimed.

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