U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23932 / September 8, 2017
Securities and Exchange Commission v. David Aubel and Robert Raffa, No. 16-CV-10670 (D. Mass. filed Apr. 7, 2016)
United States v. Robert Raffa, No. 16-cr-10125 (D. Mass. filed Apr. 6, 2016)
Alleged Market Manipulator Pleads Guilty in Parallel Criminal Case
An alleged market manipulator in an SEC enforcement action filed earlier this year has now pled guilty in a parallel criminal case and is scheduled for sentencing later this year.
The criminal charges stem from the same misconduct alleged in the SEC’s complaint filed on April 7, 2016, in the U.S. District Court for the District of Massachusetts. Robert Raffa, of Penacook, New Hampshire, allegedly manipulated the stock of a company that purportedly developed waste processing and recycling facilities.
Raffa, who pled guilty on September 6, 2017, is scheduled to be sentenced on December 6, 2017. The SEC’s case has been stayed.