US Attorney Mastermind of Multimillion-Dollar Penny-Stock Scam Indicted for Fraud and Obstruction

[newsBot]

Press Release: U.S. Attorney’s Office, District of Maryland

A federal grand jury in the District of Columbia returned an indictment today charging a Michigan man with defrauding investors in Minerco Inc. (stock ticker MINE) — leading to millions of dollars in investor losses — as well as obstructing a Securities and Exchange Commission (SEC) proceeding by destroying evidence.

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[Monello]

This scammer is a phony minister. Just like Al, Jesse & Louie.

According to the indictment, Bobby Shumake Japhia (Shumake), 56, also known as Robert Samuel Shumake Jr., Robert Japhia, and Shaman Bobby Shu, of Michigan, allegedly ran Minerco’s day-to-day operations and organized a scheme to defraud investors in the publicly traded securities of Minerco by, among other things, making or causing to be made materially false and misleading statements to the public, including in press releases, in an effort to artificially inflate the share price of, and demand for, Minerco stock.