Good Morning, Brooklyn: Monday, September 26, 2022
SENTENCED FOR STOCK MARKET SCHEME: United States District Judge Eric N. Vitaliano, earlier today, in federal court in Brooklyn, sentenced Craig Josephberg, a former registered broker, to 36 months imprisonment, to be followed by three years’ supervised release, for orchestrating a multi-million-dollar market manipulation scheme. Josephberg, who worked at multiple brokerage firms in New York, New York, was also ordered to pay more than $16 million in restitution and $706,052 in forfeiture.
Josephberg had pleaded guilty to the charges set forth in a superseding indictment in March 2018, including two counts of securities and wire fraud conspiracy, two counts of securities fraud, and one count of wire fraud relating to his manipulation of stocks of multiple microcap or “penny” stocks, including the stock of CodeSmart Holding, Inc. (CodeSmart), Cubed, Inc. (Cubed), and others.
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