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Justice News

Department of Justice
U.S. Attorney’s Office
Eastern District of Pennsylvania

Tuesday, April 1, 2014

Widespread Group Of Defendants Charged With Securities Fraud

An indictment charging a market manipulation scheme was unsealed today against six defendants in connection with the trading of stock in Super Nova Resources, Inc. (“SNRR”), announced United States Attorney Zane David Memeger.  Charged with conspiracy, wire fraud, and securities fraud are: Carl Marciniak, 50, of California, Jeffrey Weinfurter, 46, of Yorba Linda, CA, James Wheeler, 54, of Corona, CA, Daniel Starczewski, 67, of Cornelius, NC, Danny Colon, 46, of Edgewater, NJ, and Louis Buonocore, 59, of Woburn, MA.  According to the indictment, the defendants ran the scheme with the intent to cause approximately $150 million in losses to participants in the over-the-counter U.S. securities market.

If convicted, each defendant faces a maximum statutory penalty of 55 years in prison, three years of supervised release, a $5.5 million fine, and a $300 special assessment. 

The case was investigated by Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorneys Judy Smith and Patrick J. Murray.

Click here to view the indictment

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Updated December 15, 2014