Zoltan Nagy and Glenn Laken plead guilty in international securities fraud conspiracies

Zoltan Nagy, a Canadian businessman, and Glenn Laken, an Illinois trader previously convicted of federal securities fraud and racketeering offenses, have pleaded guilty to conspiring to commit securities fraud. The guilty pleas are linked to international pump-and-dump schemes.

Prosecutors said the schemes resulted in over $1 million in losses. The source does not provide further details on the timing, venue, or specific securities involved in the conspiracies.

Three Canadian co-conspirators had already pleaded guilty to similar charges: Phillip Sewell, Richard Tang, and Davies Wong. No additional case outcome, sentencing information, or law-enforcement agency is named in the source.

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