hmm..old news but interesting... her husband? Mitchell Adam, the Vancouver man arrested in the United States for planning the manipulation of a pink sheets listing, has pleaded guilty to conspiracy to commit securities and mail fraud. Prosecutors in New Jersey claimed that he and others set up an elaborate pump-and-dump of a purported oil company, HBP Energy Corp. The plan fell apart after an associate began co-operating with authorities. Mr. Adam, 47, entered the guilty plea in an appearance before U.S. District Court Judge Jose Linares on Tuesday, July 14.
The plea comes nearly two months after authorities arrested Mr. Adam at the George Bush Intercontinental Airport on sealed criminal charges. Prosecutors alleged that he and others, including fellow Canadian Kenneth David Stevenson, planned to manipulate HBP with a series of wash trades and cold-calls. There is no indication what Mr. Adam's sentence could be, but Mr. Stevenson previously pleaded guilty to the same charge and received one year of probation.