$200 MILLION FRAUD AT LANCER

LOSSES & LAWSUITS

Prosecutors say the fraud involved the manipulation of closing market prices, buying large quantities of restricted stock in private transactions from shell companies based in Boca Raton, overvaluing Lancer securities, falsifying documents and misleading investors. Each count of conspiracy and fraud carries a maximum fine of $250,000 and a sentence of up to 25 years.

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