U.S.-Canadian man charged with $300 million fraud

Tue Jun 23, 2015 5:15pm EDT
 
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NEW YORK, June 23 (Reuters) - A dual U.S. and Canadian citizen was arrested on Tuesday and criminally charged with allegedly manipulating the stocks of numerous publicly traded U.S. companies, and laundering about $300 million of profit through at least five offshore law firms.

Federal prosecutors in Brooklyn, New York, said Gregg Mulholland, 45, was arrested at Phoenix International Airport and charged with securities fraud and money laundering conspiracies in connection with stocks, including Cynk Technology Corp.

The U.S. Securities and Exchange Commission filed a separate civil lawsuit against Mulholland, who authorities said lives in Vancouver, British Columbia, and San Juan Capistrano, California. (Reporting by Jonathan Stempel in New York. Editing by Andre Grenon)