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by Mike Caswell

Troy Gran-Brooks, the Vancouver-area man charged for participating in Frank Biller's Colombian boiler room, has received a sentence amounting to time already served. Prosecutors claimed that Mr. Gran-Brooks was one of the salesmen in Mr. Biller's operation, pitching stocks amidst tout sheets that made claims such as "We expect to see a dramatic increase in share price appreciation. The wait is over!" He helped hidden insiders unload millions of shares, according to the government.

Mr. Gran-Brooks received his sentence in an appearance before a federal judge in New York on Thursday, Sept. 11. The judge deemed the time that Mr. Gran-Brooks previously spent in prison after his arrest, of 1-1/2 years, to be a sufficient sentence. In addition to the jail term, the judge ordered Mr. Gran-Brooks to pay $684,493 in restitution jointly with Mr. Biller and others. (All figures are in U.S. dollars.) He must also forfeit $584,968, representing his gains from the scheme. There was no trial for Mr. Gran-Brooks, as he previously pleaded guilty to a charge of conspiracy to commit wire fraud.

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