Ex-San Diego financial consultant convicted of penny stock fraud (San Diego Union-Tribune)

After it was found San Diego financial strategist Adesh Kumar Tyagi used fake news releases and illegal trading techniques to increase his company’s stock price, he is now being forced to pay $295,000. The decision comes after Tyagi misled investors and the SEC about previous legal troubles. Tyagi, who previously worked at Aero Financial, increased the cost of a stock right before close of the trading day, and released inaccurate news releases about the state of his company. He also failed to disclose criminal claims against him in 2010. Tyagi now has one year to make a payment, while an investigation continues in a separate fraud case against him.

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