Reported by: Michael DeSantis

Lawrence Isen, 69, of San Diego, California, conspired with a boiler room operation based in Melville to cost elderly investors millions of dollars, the DOJ said.

From 2014 to 2016, Isen, Chartier and others working with the Melville boiler room artificially inflated the price and trading volume of stock in struggling companies with poor prospects and off-loaded it onto unsuspecting victims who were often elderly and vulnerable, prosecutors said.

Isen colluded with investors, both in the United States and overseas, to dump many shares in Hydrocarb Energy Corp. and Intelligent Content Enterprises on the victims, authorities said. The companies traded under the ticker symbols HECC and ICEIF, respectively.

Read full report: https://patch.com/new-york/halfhollowhills/amp/31138425/ex-broker-gets-prison-term-in-pump-and-dump-scheme-with-li-boiler-room