SEATTLE — A Bellevue woman has been sentenced to 7½ years in prison for her part in a stock-trading scam in which federal prosecutors say more than 3,300 investors lost more than $2.4 million.
U.S. District Judge Richard Jones sentenced 65-year-old Beverlee Kamerling on Friday in Seattle. She also was ordered to pay more than $2.4 million in restitution.
Authorities say 10 people connected to the case have been convicted of various crimes.
The U.S. attorney’s office says the defendants sold stock in companies they had secretly acquired. They sent out news releases and “junk faxes” to pump up interest in the stock before they sold it. It’s called a “pump and dump” scheme.
The judge told Kamerling, in his words, “You exhibit total contempt for the law and ethics.”
Posted in News on Friday, August 7, 2009 12:00 am
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